newstodate.aero
Mar 03, 2010 (newstodate): Ahead of another fresh capital injection from its shareholders, the Scandinavian carrier SAS now seems to confirm a strategy long foreseen by industry observers: a sale to, or merger with a stronger partner.
The new capital is intended to clear the house sufficiently to present itself as a viable commodity for a new owner, despite record-low earnings and cost saving targets still unrealized.
-My understanding is that, after this crisis is over, SAS will be part of a structural deal. It is tough out there and there are obvious synergies and advantages to be had from being part of a bigger entity, Mats Jansson, SAS President and CEO told the Swedish paper Dagens Nyheter.
For years, speculations have been that SAS would eventually be taken over by Star Alliance-partner Lufthansa.
The new capital is intended to clear the house sufficiently to present itself as a viable commodity for a new owner, despite record-low earnings and cost saving targets still unrealized.
-My understanding is that, after this crisis is over, SAS will be part of a structural deal. It is tough out there and there are obvious synergies and advantages to be had from being part of a bigger entity, Mats Jansson, SAS President and CEO told the Swedish paper Dagens Nyheter.
For years, speculations have been that SAS would eventually be taken over by Star Alliance-partner Lufthansa.