PPRuNe Forums - View Single Post - SAS pilots on brief strike to attend union meeting
Old 2nd Sep 2004, 06:31
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Capt. Haddock
 
Join Date: Apr 2003
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Interesting and good point KADS - Malmoe Aviation was a victim of Braathens corporate strategy.

Media and financial analytics have explained how Braathens “over invested” in Malmoe aviation. This does not proof that it was the employees fault or that Malmoe aviation could not have survived with a better strategy. It merely states that Braathens paid too much in 1998. The price was 600 mio. A large portion of this was goodwill which had to be written off.

SAS demanded that Malmoe Aviation should be sold before SAS would take over Braathens. The Braathens-familiy would have to buy Malmoe aviation for 1 krone if they where unable to sell it. This involved guarantees of all Malmoe Aviation’s obligations and finical commitments of 1,4 billion.
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