Newspaper Dagens Industri wrote on Friday that financial distress faced by Scandinavian Airlines SAS (OMX: SAS) has made its financiers hesitant on extending its loans. The newspaper says the banks and major owners of the airliner, namely governments of Sweden, Norway and Denmark, have had some discussions regarding loan decision coming in the beginning of next year.
There have been a host of other rumours circulating as well and those are starting to irk management. In one day SAS is going to be sold as a whole or in parts and the next day mass layoffs or major wage cuts are imminent, but apparently nothing has yet been decided. Profitability is still a major problem and at the very least, even more efficiency measures seem unavoidable.
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