323

News

Sweden and Norway to offload SAS shares

Christian Wenande
October 13th, 2016


This article is more than 8 years old.

Denmark keeping its shares … for now

Destination: privatisation? (photo: SAS)

Since the foundation of SAS in 1946, the Danish, Norwegian and Swedish states have together owned at least 50 percent of the pan-Scandinavian airline. But now the airline seems to be well on the way to complete privatisation.

The Swedish and Norwegian states are looking to sell about 7 percent of their stakes in the airline: a total of 24 million shares. Despite the Danish state not necessarily seeing itself as the right long-term owners of the airline, it will maintain its 14.3 percent ownership of the airline.

“SAS is experiencing positive development and has improved its results in recent years,” said the finance minister, Claus Hjort Frederiksen.

“The successful transaction also conveys that the market has faith in SAS and the company is well prepared to complete its ongoing transition in the face of prevailing tough competitive conditions in the aviation industry.”

READ MORE: SAS unveils 15 new flights from Scandinavia

Flying the coop
Following the sales, Sweden will own 17.2 percent of SAS compared to 21.4 percent before, while Norway will own 11.5 percent, compared to 14.3 percent before. The Wallenberg Foundation is the fourth largest shareholder with 7.5 percent and among a private ownership circle that will soon own a total of 57 percent of the shares.

Sweden and Norway stated that this sale was the first step towards a gradual divestiture plan regarding their stakes in SAS.

Last month, SAS posted a net profit of 631.5 million kroner on revenue of 8.73 billion for the third quarter of its 2015-16 fiscal year.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”