{"id":239473,"date":"2022-05-31T06:58:00","date_gmt":"2022-05-31T04:58:00","guid":{"rendered":"https:\/\/www.travelreport.se\/?p=239473"},"modified":"2022-05-31T06:58:00","modified_gmt":"2022-05-31T04:58:00","slug":"new-billion-dollar-target-expected-for-sas","status":"publish","type":"post","link":"https:\/\/www.travelreport.se\/en\/ny-miljardsmall-vantas-for-sas\/","title":{"rendered":"New billion-dollar hit expected for SAS"},"content":{"rendered":"<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/www.travelreport.se\/wp-content\/uploads\/2019\/09\/8a98501452aaf2f4_800x800ar.jpg\" alt=\"\" class=\"wp-image-234368\" srcset=\"https:\/\/www.travelreport.se\/wp-content\/uploads\/2019\/09\/8a98501452aaf2f4_800x800ar.jpg 800w, https:\/\/www.travelreport.se\/wp-content\/uploads\/2019\/09\/8a98501452aaf2f4_800x800ar-300x225.jpg 300w, https:\/\/www.travelreport.se\/wp-content\/uploads\/2019\/09\/8a98501452aaf2f4_800x800ar-768x576.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption>Photo: SAS<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">It&#039;s time for the loss-making and debt-laden airline SAS to put its cards on the table again. Analysts are speculating that another billion-dollar hit will come in Tuesday&#039;s quarterly report, which will be released at 8:00 AM.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201d&quot;Sell&quot; is the unequivocal advice from the four analysts who have issued recommendations for SAS shares.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And several hedge funds have recently chosen to short the stock, that is, to use share loans to bet on new price declines, according to the news agency Bloomberg. This is despite the fact that the stock has already fallen 31 percent this year and now costs 88 \u00f6re \u2013 giving a market capitalization of just over six billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jacob Pederson, head of research at Sydbank, expects a loss of 1.6\u20131.7 billion Swedish kronor from the second quarter. But he does not see an immediate liquidity crisis right now. The coffers are being replenished by all the airline tickets paid in advance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201dIt gives SAS an airbag, with a stable cash flow even if the result is devastating,\u201d he says.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The effects of the pandemic have subsided and air travel is increasing again, even though COVID-19 is still spreading and is causing major lockdowns in China, among other things.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SAS \u2013 which has the Wallenberg family and the Danish and Swedish governments as major owners \u2013 is also struggling with inflationary effects such as a significantly more expensive dollar and skyrocketing prices for aviation kerosene in the shadow of the Ukraine war.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Staff shortages and delayed deliveries \u2013 two pandemic effects \u2013 have simultaneously led to a mountain of rebookings with thousands of canceled flights this summer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By the winter season, the situation could become serious for SAS from a liquidity perspective, according to Pedersen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201d&quot;Then the market will be more difficult, because we will probably enter some kind of economic crisis. It will not be easy to get this to work around winter time, so within a year I think we could have big problems for SAS,&quot; he says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The debts, just like the rebookings, can be described as a mountain, more precisely at 16.1 billion kronor, according to Bloomberg. Negotiations with the pilot union about reduced personnel costs and with lenders about converting loans into shares are ongoing \u2013 which is crucial to getting the company&#039;s finances in order in the long term, according to Pedersen.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>SAS has in its plan<\/strong>&nbsp;SAS Forward has set a goal of reducing annual costs by SEK 7.5 billion by 2026 and consulting firm FTI Consulting has recently been hired to speed up the process, Bloomberg reports, citing sources.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201d&quot;SAS needs more money. They need to deliver on their plan, reduce wages, increase productivity and have some of their debt converted into shares. They need all of that,&quot; says Pedersen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He does not believe in any merger as an option in the current situation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201d&quot;Right now I don&#039;t think anyone can afford to buy SAS. All other airlines already have large debts after the pandemic. Consolidation is not a solution right now,&quot; he says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201dIn addition, SAS must look forward now, and transform the company into something that is even worth buying,\u201d he adds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source: TT-DI.SE<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"excerpt":{"rendered":"<p>Det \u00e4r dags f\u00f6r det f\u00f6rlust- och skuldtyngda flygbolaget SAS att l\u00e4gga korten p\u00e5 bordet igen. Bland analytiker spekuleras det i \u00e4nnu en miljardsm\u00e4ll i tisdagens kvartalsrapport som sl\u00e4pps klockan 8.00. \u201dS\u00e4lj\u201d, \u00e4r det entydiga r\u00e5det fr\u00e5n de fyra analytiker som g\u00e5tt ut med rekommendationer f\u00f6r\u00a0SAS -aktien. Och flera hedgefonder har p\u00e5 senare tid valt [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[179],"tags":[195,212,200],"class_list":["post-239473","post","type-post","status-publish","format-standard","hentry","category-flyg","tag-tag-flyg","tag-flygbolag-travelguiden","tag-sas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ny miljardsm\u00e4ll v\u00e4ntas f\u00f6r SAS &#8211; Travel Report<\/title>\n<meta name=\"description\" content=\"Ny miljardsm\u00e4ll v\u00e4ntas f\u00f6r SAS \u2013 L\u00e4s senaste nyheterna fr\u00e5n resebranschen p\u00e5 Travel Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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