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Fri, 12-Mar-2010 Path: / The Norway Post
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Aviation: Further cuts announced by SAS Print E-mail
Image Scandinavian airline SAS has announced additional cost savings initiatives of SEK 2.0 billion and measures to strengthen the balance sheet, including a proposed rights issue of approximately SEK 5 billion.
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This was announced in a company press release on Tuesday. It states that the rights issue of approximately SEK 5 billion is with preferential rights for SAS shareholders which supports the implementation of the remaining parts of the Core SAS strategy.

The Norwegian, Danish and Swedish governments are major SAS shareholders. According to NRK, the Norwegian government is under certain conditions willing to invest another NOK 575 million in the airline.

(NRK)

Rolleiv Solholm

 

 
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