Airline wants to conclude credit negotiations first
SAS has made a decision to delay the release of its third-quarter results to no later than November 12 at 08.00 CET. By this time, the airline says, it will have announced the outcome of negotiations on the extension and amount of its revolving credit facility with banks. However, SAS still stresses that it will be a “positive Q3 result”.
“The finalisation of SAS’s comprehensive plan to address the company’s cost structure and complete asset disposals is an essential part of these negotiations,” the company said in a statement this morning. “SAS has materially advanced these negotiations and the plan, and both are
expected to be finalised within a few days.”
As reported, following media speculation that resulted in a suspension of trading in SAS shares, the company released information that it made a profit of SEK 568 million (€66.4 million) in the third quarter. SAS Group carried 2.7 million passengers in October, up 4.6% on October 2011.
[pictured: SAS Airbus A340; courtesy SAS]