I think chances of anything revolutionary happening in the short term are miniscule. As pointed out, AFKLM owns 19.99% of the business which at minimum gives them board representation. Strictly speaking, the BoD "decides" the strategy proposed by management. Now, I think there's a very high chance that AFKLM will have people "seconded" to SAS to help with operational matters and thus be able to impact strategy that way.

I would say it will be a long time before you see any changes for the following reasons:
* "Investing" in a new onboard product will most likely require validation that the market will pay a premium price so that will take time. I am sure SK has plenty evidence that the market won't pay the premium. I think LX proves that the "premium" model doesn't work (not that their l/h product is premium in C).
* AFKLM has no real interest in improving SK in the short-term as it will most likely increase their purchase price
* In my view, SKs real problem lies in a) the three hub model which is impossible to collapse unless you exit one market and b) the severely subscale l/h model meaning SK is forced to fly P2P in Europe (and heavily leisure focused)
* I believe SK has one of the largest percentage of LCC competition in its main airports (OSL and CPH(?)) vs the legacies in Europe
* I've got no idea how the JV alliances are structured but imagine is % of seats supplied across the Atlantic with some allowance made for the feeder operation (ie into the hub taking cross-Atlantic). Feed cannot in any shape be profitable in its own right?

In my eyes, I don't think it is unrealistic to see either ARN or OSL go at some point. Not because operations stand-alone are necessarily unprofitable but because it will lead to overall improved efficiency.

Whilst I would personally pay for a more premium product (and would love to see it), I strongly doubt the market will. For instance, my work travel is solely cheapest provider (thankfully I can specify airports...) so would be impossible for me work wise. Most I know, whether monied or not, simply doesn't care whether they get a free drink or not. Schedule and price is important. DY for instance, vs. SK, doesn't offer a worse product in my view. The Scandinavian market has been conditioned to LCCs now, balk at the worst of them (eg Ryanair) who picks up the lower segment mainly.