newstodate.aero
Nov 3, 2008 (newstodate): SAS Cargo's planned sale of its cargo handling subsidiary, Spirit Air Cargo Handling, has been put on hold.
-The sales process has not been called off, only suspended till more financially stable conditions have returned, says Mette Vaaabengaard, SAS Cargo Communications Manager.
-Serious sales negotiations started this autumn with several potential parties indicating their interest, but this has cooled off as the world economic crisis developed over the last few months.
-SAS Cargo therefore does not now consider the offers on the table as sufficiently attractive to warrant continued negotiations, and talks will not resume until the economic situation has stabilised, says Ms Vaabengaard.
The planned sale of Spirit will be split into two stages, with the first stage comprising the sale of a minority share to a selected partner, to be followed in a second stage by a full take-over if the process advances satisfactorily.
Spirit Air Cargo handling comprises cargo handling at terminals in Copenhagen and Billund, Denmark, Malmo, Gothenburg and Stockholm in Sweden, Oslo, Stavanger, Bergen, Kristiansand, Trondheim, Bodo and Tromso in Norway.
-The sales process has not been called off, only suspended till more financially stable conditions have returned, says Mette Vaaabengaard, SAS Cargo Communications Manager.
-Serious sales negotiations started this autumn with several potential parties indicating their interest, but this has cooled off as the world economic crisis developed over the last few months.
-SAS Cargo therefore does not now consider the offers on the table as sufficiently attractive to warrant continued negotiations, and talks will not resume until the economic situation has stabilised, says Ms Vaabengaard.
The planned sale of Spirit will be split into two stages, with the first stage comprising the sale of a minority share to a selected partner, to be followed in a second stage by a full take-over if the process advances satisfactorily.
Spirit Air Cargo handling comprises cargo handling at terminals in Copenhagen and Billund, Denmark, Malmo, Gothenburg and Stockholm in Sweden, Oslo, Stavanger, Bergen, Kristiansand, Trondheim, Bodo and Tromso in Norway.