Airlines in a Crisis

SAS has again proven that they despite all their renegotiated deals with staff and suppliers can't make money with the current debth mountain. Which they probably ain't paying on anyway these days. Question is how then will that change when/if they come out of chapter 11. Another negative month was announced by SAS. Quarter of a billion swedish krona they losst in September after -638 million in August. That is better on approx the same income but still a way to go. And another reduction in liquid cash. Wonder if the winning bidder let SAS management ringfence some of that for ch11 exit bonuses.  From this month income will reduce even more into the winter season. Question is will the outgoings reduce accordingly. Doubtfull since almost all airlines loose money in the winter season, meaning their outgoings don't reduce as much as the downfall in their income. That SAS should do better is beyond even the fantasies of the largest optimists.  What SAS need is some more concent...

Now instead of receiving money from the winning bidders SAS want to pay them 3 million dollars with no guarantee of the money in the winning bid ever materialising.  Isn't this the way all scams starts. You are promised a high sum but there is some administrative costs that have to be paid up front and for some reason they who sit on the millions, or in this case billions, they have promised you can't afford to pay this so you have to. There is certainly a lot of money flowing from SAS to new prioritised creditors like lawyers and consultants these days. What do other creditors feel about that. Hopefully the ch11 judge will stop this particular scam on behest from Apollo who have provided the financing for getting SAS through the process but did not get their bid for the company approved as the winner by the SAS management. The winning bidders have neither signed a binding agreement nor provided a chapter 11 plan. There seeems to be so many exceptions and other limitations from...

He didn't after all manage to save SAS as SAS. Instead he sold out to Air France KLM, possibly in hope of a top position in his home country Holland.  I suggested already before he was hired that SAS needed a Scandinavian to be saved because only a local would understand SAS within the Scandinavian market and just as importantly be comitted to save it as SAS and not just a disappearing part of a bigger concern. But few in Sweden and nobody in Norway saw the value of a dedicated airline competitor in the Scandinavian market. Norway have now this year alone lost 3 of its 4 independent airlines. And the ticket prices have skyrocketed accordingly. A few low cost airlines in and south of Oslo is not going to solve that problem. And with a slow moving and bureaucratic Avinor tht think the solution for lost income is piling even more taxes onto prices, has obviously never learned the business basics about how increasing prices reduces demand and therebye income at a certain stage of the c...