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SAS CEO states carrier likely to be sold once it recovers from financial issues

3-Mar-2010 1:01 PM

SAS CEO, Mats Jansson, stated it is likely the carrier will be sold or merged with another carrier once it recovers from its financial difficulties (The Local/Reuters, 02-Mar-2010). Mr Jansson has previously been sceptical about selling the carrier, but stated he is now “older and wiser”. The CEO stated it was too early to comment on potential buyers. The carrier also expects 2010 to be a “very difficult year”, but expects to return to profits in 2011.

SAS: “In my opinion, after we have gotten through this very difficult crisis, SAS should enter into a structural deal…Making it on our own is not a goal in itself…I have reached the insight that [a sale] is definitely the best solution for all parties…First we need a capital injection from our shareholders and then we need to get our cashflow going so we can make SAS interesting again. If we don't do our homework there will be no interest on the market for us,” Mats Jansson, CEO. Source: The Local/Reuters, 02-Mar-2010.