Skistar shares fall on the stock market after news that they are offering full refunds due to a lack of snow at three of the company's ski resorts.

The price drop costs shareholders over SEK 400 million.

The warm weather has caused problems for those who want to ski this Easter. Anyone who has booked a trip to any of Skistar's facilities in Sälen, Vemdalen and Trysil in Norway this week is being offered a full refund for ski passes, accommodation, ski school and ski rental.

Niclas Sjögren Berg, responsible for all destinations at Skistar, told TT on Easter Monday that a total of 700 accommodation bookings are affected, which is described as a small part of the season's total. But he cannot say how much money Skistar will lose. 

”"It all depends on what the guest chooses to do. It's not a significant amount if you look at the whole season," he tells TT.

On the Stockholm Stock Exchange, Skistar's share falls by just over 3 percent, corresponding to a decrease in market capitalization of approximately SEK 415 million.

Source: DI.SE