The airline SAS stock market crash continues. At Thursday's opening, the share fell just over 7 percent and is trading below SEK 10 – for the first time since 2013.
SAS's tough week on the Stockholm Stock Exchange continued on Thursday. Shortly after the stock exchange opened, the share fell 7.3 percent, extending the airline's decline, which can now be described as just over 27 percent in the past week alone.
At 9.20 am, the SAS share is trading at SEK 9.96, and thus the share has slipped below the SEK 10 level for the first time since January 2013.
Airlines around the world have been hit hard by the coronavirus outbreak, and several companies have warned of the uncertainty the virus has brought to the industry. In Wednesday's quarterly report, which showed a substantial loss in the past quarter, SAS announced that the company will lose 200 million kronor from the canceled flights to China in February and March.
On Thursday morning, DNB Markets chose to lower the target price for SAS to SEK 11 from the previous SEK 14.50. However, the recommendation to hold is reiterated, writes Nyhetsbyrån Direkt.
Source: di.se
