SAS's wider Q4 loss shows it lags far behind rivals, shares slip

Sas AB

30/11/2023 08:25

** Shares of Stockholm-listed SAS  SAS.ST  fall 3.6% after
the struggling airline reported a wider Q4 loss
    ** SAS posts Q4 pretax loss of SEK 2.11 billion ($203.37
million) vs a loss of SEK 1.70 billion a year ago
    ** "Definitely an earnings position that is far worse than I
anticipated," says Sydbank analyst Jacob Pedersen, adding the
report is a "very clear testament" that SAS lags way behind
competitors in terms of earnings
    ** The airline, which has filed for bankruptcy protection in
the U.S., says it aims for Chapter 11 restructuring plan to be
approved by U.S. court in early 2024
   ** The stock is to be delisted in Q2 2024

($1 = 10.3754 Swedish crowns)

 (Reporting by Marta Frąckowiak)
 ((marta.frackowiak@thomsonreuters.com))