Why is SAS hit so hard on the stock market today?
- The share, above all, does not crash because of today's interim report. By contrast, SAS CEO Richard Gustafsson flags that it looks much tougher for next year. This year, SAS has been challenged by more expensive fuel, a weak krona, air taxes and so flying comb. Exactly the sustainability issues are seen as existential in aviation. In addition, the airline industry is affected by the economic situation. There, SAS now sees even worse times.
What does this mean for us air passengers?
- The airline industry is under pressure, there are too many airlines in Europe and many companies have too large aircraft and too few passengers. Now Norwegian and Ryanair have chosen to close down airlines from Sweden. This may mean lower competition on certain routes, which could lead to higher prices. But we buy our airline tickets online and there it is easy to compare. It is difficult to charge higher prices for the ticket itself in such a situation.
Will SAS survive?
- It's easy to forget that only a few years ago, SAS's existence was threatened and the company very close to bankruptcy. The company and its employees went through the steel bath of the times. Now, SAS has to make a lot of money to afford its new aircraft fleet, while at the same time those who work there want increased pay and better working conditions. This has meant a strike and canceled departures for passengers this year. Should SAS need additional money, it is not obvious that Sweden will enter into capital.