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    SAS   SE0003366871

SAS AB (PUBL)

(SAS)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 08/02 10:45:00 am
2.136 NOK   -1.43%
08/01SAS : 75 years of proud aviation
PU
07/16SAS : Sek 3.0 billion credit line from major shareholders in place
AQ
07/16SAS AB Announces SEK 3.0 Billion Credit Line from Major Shareholders in Place
CI
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SAS : Airline SAS gets $361 million loan guarantee from Denmark, Sweden

05/26/2021 | 12:51pm EDT
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Stockholm

STOCKHOLM (Reuters) - Sweden and Denmark said on Wednesday they had agreed to offer ailing airline SAS, in which both countries own stakes, a 3 billion Swedish crown ($361 million) loan guarantee.

The COVID-19 pandemic has seen air travel collapse, plunging the industry into crisis and leaving carriers scrambling to secure funds to weather the slump.

SAS said the credit line should be seen as a complement to other ongoing activities to cut costs and strengthen liquidity. 

"Market conditions also make it difficult to predict how demand will develop ahead of the important summer season given that customers are increasingly choosing to book their trips on short notice," SAS said in a statement.

Sweden and Denmark will guarantee 1.5 billion crowns each, the two Nordic governments said in separate statements.

"It is still the Government's position that SAS is important for Denmark's accessibility, Danish jobs, companies and the Danish economy in general," the Danish government said, adding that SAS had been hard-hit by the pandemic.

The Swedish state owns 14.8% and the Danish state owns 14.2% of SAS. The guarantee is pending European Union approval.

SAS, which is due to report second-quarter earnings on Thursday, completed a capital raising in late 2020 after a year of deep losses.

($1 = 8.3100 Swedish crowns)

(Reporting by Helena Soderpalm and Johan Ahlander; Editing by Elaine Hardcastle and Alexander Smith)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NORWEGIAN KRONER / SWEDISH KRONA (NOK/SEK) -0.02% 0.97289 Delayed Quote.1.66%
SAS AB (PUBL) -1.62% 2.132 Delayed Quote.13.46%
All news about SAS AB (PUBL)
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More news
Financials
Sales 2021 14 151 M 1 647 M 1 647 M
Net income 2021 -6 219 M -724 M -724 M
Net Debt 2021 30 308 M 3 528 M 3 528 M
P/E ratio 2021 -2,72x
Yield 2021 -
Capitalization 15 171 M 1 769 M 1 766 M
EV / Sales 2021 3,21x
EV / Sales 2022 1,57x
Nbr of Employees 4 476
Free-Float 50,9%
Chart SAS AB (PUBL)
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SAS AB (publ) Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 2,09 SEK
Average target price 1,35 SEK
Spread / Average Target -35,3%
EPS Revisions
Managers and Directors
Anko van der Werff President & Chief Executive Officer
Magnus Írnberg Chief Financial Officer & Executive Vice President
Carsten Dilling Chairman
Charlotte Svensson Chief Information Officer & EVP
Birgitta Monica Caneman Independent Director
Sector and Competitors