How much time to next crisis?
I'm real glad that SK was able to survive this crisis, especially since I'm scheduled to fly SK back to OSL in a couple of days from the US.
But, I wonder how much time this buys. Any guesses as to when SK could possibly come in the same situation? Or to put it another way, how long in advance can one buy a SK ticket without the possibility of another bankruptcy scare. |
I'd say my guess is as good as yours... but personally I wouldn't worry about it other than that I'm definately paying all my SK booking with a credit card, so I'll get my money back if things don't work out.
Other than that... they might go bankrupt if you book long in advance, but then again, any other airline might just aswell strike/have a techinal problem/change schedules/cancel flights that messes your plans up. I am hoping this doesn't turn into self fulfilling propethy. People are worried about bankruptcy -> nobody books -> bankruptcy. |
Originally Posted by mkgrip
(Post 19712724)
I'd say my guess is as good as yours... but personally I wouldn't worry about it other than that I'm definately paying all my SK booking with a credit card, so I'll get my money back if things don't work out..
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I think March 2015 was the deadline for the loans mentioned some other place on this forum. So 2.5 years. Of course, like with anyother airline, or business, this does not mean that they will not run out of cash before this deadline ...
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Depending on what Scandinavian news paper you get your daily news feed from it varies from 6 months to a year and a half. Both Sweden and Norway are ready to sell when the time is ready whereas Denmark is a reluctant to comment at all on the subject.
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I'd be interested to know how much of the pension problem was solved last week. How much is left of the 12 billion? If it's significantly reduced then SAS may be on the track to recovery to be a healthy company. If not, it's just a matter of time until they're bankrupt.
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I wouldn't mind too much about booking flights with SAS, but I am considering keeping my points balance at a minimum level.
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Originally Posted by Fredrik74
(Post 19715866)
I'd be interested to know how much of the pension problem was solved last week. How much is left of the 12 billion? If it's significantly reduced then SAS may be on the track to recovery to be a healthy company. If not, it's just a matter of time until they're bankrupt.
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All they have secured is to roll the debt forward, at a higher cost since the creditors want better yields for the increased risk. However, they did manage to get a decent chunk of cost cutting in place.
The inherent problems are still in place though so the end game is the same. The vultures have backed off for the moment. |
Originally Posted by tsastor
(Post 19719013)
I wouldn't mind too much about booking flights with SAS, but I am considering keeping my points balance at a minimum level.
http://flyawaysimulation.com/news/46...ndinavian-sas/ Non-Core Assets for Sale As part of the turnaround plan, SAS will sell "non-core assets", and these are forecast to generate 3 billion crowns. Assets that will be up for sale include SAS’ Ground Handling unit, frequent flyer scheme, Eurobonus, and its profitable short-haul carrier, Widerøe. SAS has a 10% holding in Estonian Air and a 38% stake in Air Greenland. The list of assets that will be sold is still to be finalized. |
Originally Posted by hbush
(Post 19761621)
Don't keep too much EB points: Eurobonus program as such is on sale.
http://flyawaysimulation.com/news/46...ndinavian-sas/ Sounds like something lost in translation somewhere... |
Originally Posted by meheeco
(Post 19761980)
I'd like to se the source of this, because in terms of official announcements in Scandinavian media SAS managers have repeatedly denied that Eurobonus is up for sale (while they have almost been running a public auction for the other two entities mentioned).
Sounds like something lost in translation somewhere... |
Originally Posted by another_shot
(Post 19762532)
In another message SK was using the wording "EB will remain the integral part of SAS", however as was exactly discussed on another tread here, this doesn't really mean they will not sell it - you can have it as integral part of the product and same time owned by somebody else.
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Originally Posted by another_shot
(Post 19762532)
In another message SK was using the wording "EB will remain the integral part of SAS", however as was exactly discussed on another tread here, this doesn't really mean they will not sell it - you can have it as integral part of the product and same time owned by somebody else.
I just thought it would be nice to add some details and a reality check to this article, which basically is an aggregation of the last 3 weeks of events that has been covered in detail on a day-to-day basis (some days even hour-by-hour) by all Scandinavian media. |
Originally Posted by meheeco
(Post 19761980)
I'd like to se the source of this, because in terms of official announcements in Scandinavian media SAS managers have repeatedly denied that Eurobonus is up for sale (while they have almost been running a public auction for the other two entities mentioned)
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