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The sales of SAS would being in Skr3 billion - money badly needed to straighten its balance sheet

Wednesday, 14 November 2012
The sales of SAS subsidiary, Widerøe and the ground services should jointly raise Skr2 billion if SAS is determined to achieve the objectives of its savings plan. It is determined that the total sales of the SAS components will bring in up to Skr3billion.

According to the head of the SAS investor relations, Sture Stölen, just the regional airline and ground services will pump in Skr2 billion into the company's coffers, writes the Norwegian news agency NTB.'

The company's airport properties at Gardermoen at Oslo and Kastrup in Denmark is expected to produce Skr350 million and sales of aircraft engines will further bring in Skr700 million, according Stölen.

Flybe Finland is considering buying the regional airliner, Widerøe - a sale, which may come as early as 2013.

Low cost airliner, Norwegian was previously tipped to buy Widerøe, but the SAS subsidiary may as well end up in foreign hands, writes Norwegian daily, Aftenposten.
"We are looking all the time for opportunities to expand in Scandinavia, Nordic and the Baltic countries., we now want to see the opportunities that have arisen in Norway when Widerøe go for sale, "says Liz Sheridan, PR Manager of Flybe.

"In my opinion, this would be a good opportunity for Widerøe because Flybe already is on the market and has an operation that largely resembles what Widerøe have today, "said the Danish Air analyst Ole Kirchert Christensen, to the newspaper.

The analyst Hans Erik Jacobsen at First Securities believes, however, that it is most likely that Widerøe, will end up with owners of Norwegian.
Before a sale can be appropriate, SAS must solve the problems with the workers unions and pensions.
Norwegian Civil Aviation Authority Avinor can become one of the buyers of the SAS property at Gardermoen.

Avinor, which is wholly owned by the Norwegian state, is negotiating with SAS on the issue. Avinor hope to get up to Skr6 billion from the state, which would make the purchase possible, writes Norwegian business daily, Dagens Näringsliv.
by Scancomark.com Team

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