Scandinavian Airlines SAS (OMX: SAS) decided to halt the share this morning and release details concerning Q3 2012 in advance. The company said it will report a positive result with an EBT of 568 million SEK on 9% growth in passenger revenue and 6% lower unit costs. The company admitted that a long-term comprehensive plan to address its costs and the effect of equity write-downs expected next year from pension related costs is being finalized.
The negotiations regarding the extension and the amount of revolving credit facility of 4.7 billion that will expire in June 2013 and backstop bilateral facilities that seemed to be the source of the rumours were admitted and SAS said that the finalization of the cost savings plan is essential part of the negotiations. More information is forthcoming later.
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