More like oversized management and 39 unions to agree with on T&Cs. Too many different types of a/c for the same kind of flying (med-shorthaul), and not being able to turn a profit on lonhaul destinations with A330/340s.
Factor in the oil crisis of last year (maybe didn`t hit that hard due to hedging), the Q400 2-gear landings (subsequently ordering new CRJs from Bombardier), the Spanair takeoff disaster (and getting rid of Spanair for €1
), the economic crisis, as well as competition from lo-co`s, and the need to lay off pilots and cabin crew and offer up early retirement packages to those on the high end of the payscale... I`d say they`re not doing half bad
Analysts pretty much agreed that the Q2 loss would amount to SEK-1,4BN, but ended up at a far better SEK-1,0BN. The Swedes and Danes have now opted to sell their stakes, but nobody wants to touch this troubled outfit these days. LH maybe, but not until ze Ordnung musst sein! And ze price iz right