SAS’s share fell over 9% on the stock exchanges in Oslo and Stockholm on Monday. According to SAS CEO Anko Van der Werff, the airline is fighting to survive.
“SAS is fighting to survive. When I see how the market is now, how our customers are changing, and the size of our debt, it is quite clear that we have to do things significantly differently,” SAS CEO Anko Van der Werff told the Danish site Finans.dk.
Van der Werff said that the company has many problems due to the corona pandemic. At the end of the first half of the year, the airline had a debt of around SEK 27 billion.
“It requires understanding and efforts from everyone, and the negotiations (with the unions) have a purpose. SAS must be competitive so that we can survive, grow, and thus create jobs. I want to do this with the unions, but it takes two to tango,” he told the website.
On Monday morning, the share price of SAS fell 9.6% on the Stockholm Stock Exchange, while the price in Oslo fell 9.1%.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinanceInternet Explorer Channel Network