SAS sinks another 5%, Air France-KLM interested in Czech Airlines - share wrap
SAS shares have lost another 40% of their value since the start of 2009, dropping 5.2% yesterday. This week's announcements of further network cuts (Copenhagen-Seattle service next Winter) and reports in the French media that Air France-KLM is still interested in possibly acquiring the Scandinavian carrier, have failed to stem the slide in SAS's share price.
SAS share price: 02-Jan-09 to 25-Feb-09
However, the ongoing restructuring of SAS has led Air France-KLM to consider other less complicated consolidation options, namely SkyTeam Alliance partner, Czech Airlines, which is to be privatised by the end of Sep-2009.
Air France-KLM shares rose 0.5% yesterday.
European selected airlines daily share price movements (% change): 25-Feb-09