When the SAS presentation went into capitalizing the SAS brand, the first line associated with that went directly to EuroBonus.

The "deleveraging" may mean giving up in ways on Norway. I personally think that it would be a risky gamble for SAS to give up on Norway, but sometimes bad gamblers exit games because they are out of money to continue the gaming. Doesn't mean it's a great idea to cut the losses and run at this point, but the poor can seldom afford to eat the losses and buy time as much as the wealthier can. And so to the wealthier do the gains accrue, as sequence of returns matters most to those who can least afford it going wrong -- and SAS just can't afford it all.