PW2040

Hi all.

With all the rumors out there, how close is SAS from going bust?

I mean they are losing money like hell, must be a limit somewhere ?

Greetings, see u up there in the blue

PW2040

Ramsey

sas bust..never although goverment funding is illegal. Why bother about it. We come up with a new term for it..SHAREEMISSION

bfisk

En emisjon er da ikke det samme som subsidiering. En eier vil jo selvfølgelig vekte risiko mot mulig gevinst ved å gå inn med midler i en emisjon. Ikke noe verre enn å sette penger i banken, aksjer, eller andre steder...

redbar1

Bfisk:

Helt enig. Sålenge ingen penger er SKATTEpenger ;-)

Cheers,
Redbar1

eliptic

Pratade med en släkting i helgen som jobbar på SAS , han sa att pilotföreningen och Pilot lönerna knäcker SAS sakta men säkert!?

Är SAS piloter så mkt bättre betalda än konkurenterna i övrigt?

Guttn

Hva om man sier at det er bom-avgiftspenger? Eller mva-penger? Eller ikke minst... OLJE-penger?

Det blir litt tabloid hva man kaller eiernes penger, for hos Staten kommer det fra samme pott. Og hvis man trekker tråden om dårlige investeringer litt lenger så kan man sammenlikne tapene som SAS har mot hvor mye dn sittende regjering har tapt med Statens Pensjonsfond (aka Oljefondet) pga aksjespekulasjoner.

Man må gjerne være eier eller deleier i et flyselskap, man kan man ikke særlig mer enn at noen flyr er store og noen fly er små, så kan man la andre som har greie på dette styre sjappa

737skyrider

The airline is doing so poorly that it woen't be able to survive other 18 months. I would not bee surprised if it was out of bussiness in a year. Poor management, bad reactions to the economy and governement ownership who doesn't want to let the ownership to private hands. This airline is going down the drain FAST. We who works there are leaving the sinking ship (or are being fired instead...)

Dovregubben

Sad but true, it's going so fast downhill now that the 6 billion cash from the owners together with the "Core" project is far from beeing enough to save the company.

Akktu Stakki

At least SAS are honest and do not, like Norwegian and Cimber, feeding the public and media with "customized figures"

For example Cimber is overdue by two month publishing financial result
Norwegian does not publish that they has to do new stock emissions to survive.

Fact is niether SAS, QI or DY makes money.
SAS is the only airline admitting it.
Norwegian and Cimber doing it the Sterling, Good Jet and Fly Me way, with- out any customer responisibility

Guttn

Fact is that nobody is making money these days. Even allmighty Lufthansa is showing red numbers. Finnair aren`t expecting profits until the end of NEXT year. The thing that can keep SAS afloat is their equity. They have a lot of equipment that has a certain market value, which they can sell off (and lease as little as they need) to keep flying. But they are very close to the edge for sure. I think we all know where the problem lies, and they keep on not wanting to take responsibilty for their actions and previous actions. Perhaps SAS should go bust. And perhaps SAS Norway (or call it whatever really) should arise from the ashes and continue to be somewhat profitable and not use their profits to subsidize those who never make a profit? In any case there is room and need for 2 airlines in Norway. 1 traditional and 1 lowcost to keep both at their feet. I fear what will happen if SAS go bust and FR are knocking at the door

TowerDog

I thought SAS and most other Euro carriers went private years ago.....

Looks like I am wrong and SAS belongs to the Governments of Sweden, Norway and Denmark....? Yes..No..?

Guttn

Yes, owned by SE/DK/NO in addition to a Swedish family-foundation thingy and some minor shareholders. So not entirely government-owned, but not far from it.

Diper

Den norske, danske og svenske stat eier 50% av SAS etter den gamle nøkkelen :2/7 norske stat, 2/7 danske stat og 3/7 svenske stat. Det gir eksempelvis den norske stat en eierandel på ca 14%.

CaptSeeAreEmm

Lol - Akktu Stakki - you are so predictable with your Cimber bashing, which is your business I guess, but from what I hear they aren't doing too bad for the times actually, especially considering the cost of taking over Sterling. The fact that Vagn Sørensen is joining their board speaks volumes.

TV 2 Finans - Vagn Sørensen i bestyrelsen hos Cimber Sterling

Anyway I dont know your personal agenda, but I fail to see how QI and DY have anything to do with SAS' current situation.

bfisk

Må si jeg syns det er synd hvis SAS ikke klarer seg gjennom denne kneika. Syns de leverer et meget godt produkt til en (som oftest) fornuftig pris. Og nei, jeg jobber ikke for SAS...

Emma Gemma

Ask yourself this: who would possibly want to buy a company represented by nearly 40 unions?

They have been in negotiations with the unions for two weeks with no results whatsoever. The unions were looking at the each other's proposals and kept comparing them and asking why not everybody had to contribute the same. This is why the company decided to cease negotiations and will be spending the entire summer to find another solution!

CAU has agreed to a 6% paycut for six months if accepted by their members. Do you think they will?

Guttn

Perhaps the 39 unions should do the same as the SAS companies and come together? The simplest answer, and negotiations would then not be 3-, 4-, or 5-way (with each representative union looking at the others deals). It really is that easy.

I thought I read it was the other way around regarding CAU. That they were not willing to accept either of the offers; a 6% paycut or a 6% employee cut. The Noggies offered up the same option that BA and KLM are doing; working for free. Or to put it in clearer terms; putting in more hours without claiming compensation.

Emma Gemma

I read the newspaper (SVD) two days ago and it said CAU had agreed to a paycut, between August 2009 and February 2010, if agreed by the members. After that the salaries and allowances will go back to normal again. It also said CAU is not asking for anything in return and that the chairman can't understand why the management still hasn't accepted the offer.

Guttn

SVD is which newspaper again? In Norway they are reporting the opposite. Can`t believe a thing you read anymore

Emma Gemma

Svenska Dagbladet!

Here's the article: Ingen lösning i SAS-förhandlingar | Näringslivsnyheter | SvD

The article is written in Swedish but it shouldn't be a problem for you to read if you live in Norway (and speak Norwegian of course )