SAS continues to soar on the stock market, now up almost 150 percent from its lows just a couple of weeks ago. This Christmas, the airline is resuming a number of routes to meet increased demand.
Between October 27 and November 5, SAS shares plummeted from just over 2 kronor to 75 öre as the newly issued shares from the airline's recapitalization plan reached the market. Since then, the situation has brightened considerably in terms of price.
On the one hand, several positive vaccine announcements have come in, indicating that 2021 could be a brighter year for airlines if everything goes as planned. At the same time, the survival of the company's largest competitor Norwegian is threatened, which has prompted major bank HSBC to place buying advice at SAS.
In Tuesday trading, SAS rose 14 percent to SEK 1.90 and has thus recovered by almost 150 percent since the bottom was reached on November 5. During the morning, SAS released a press release announcing that it is resuming a number of routes in connection with Christmas traffic to meet demand for travel to, from and within Scandinavia.
From mid-December to mid-January, SAS will operate all domestic routes in Sweden and Norway, as well as domestic routes in Denmark with the exception of Billund. The airline will also continue to fly routes between the Scandinavian capitals and resume several routes to Europe, as well as continuing to fly intercontinentally to New York, Chicago, San Francisco, Washington and Shanghai.
Although the traffic program is reduced compared to previous years, SAS will offer 129 routes to 82 destinations.
