Window._dctk_guid_ = JSON. Contact Jacob via email if you are interested in receiving the newsletter.Window._PUBLIC_PATH_ = JSON.parse("\"https:\\u002F\\\\u002Fblossom-flex-ui\\u002F\"") But what do travelers get for that low price It turns out: pretty much what you'd expect from any other airline flying economy across the Atlantic with a few glaring exceptions. He publishes a newsletter each weekday focused on the most important regional and global news. With roundtrip fares regularly under 400, flights to Europe don't get much cheaper than flying Scandinavian Airlines (SAS) economy. As a Russian speaker, he has been involved in covering the war in Ukraine. His most impactful reporting on Arctic issues include a report on how NATO allies are slowly waking up to Russian supremacy in the region, uncovering how Greenland represents a security black hole for Denmark and its allies, and how an abundance of critical minerals has proven a curse for Greenland.īefore moving to Copenhagen in 2016, Jacob spent seven years in Moscow covering Russia's oil and gas industry for Dow Jones Newswires and The Wall Street Journal, followed by four years in Singapore covering energy markets for WSJ and Reuters. Satellite IR Turbulence (Global) Turbulence (N. Specializes in security and geopolitics in the Arctic and Baltic Sea regions, as well as large corporates such as brewer Carlsberg and shipping group A.P. read moreīased in Copenhagen, Jacob oversees reporting from Denmark, Iceland, Greenland and the Faroe Islands. On Tuesday, Oslo said it would support SAS' debt-to-equity plan, under certain conditions, but did not plan to remain a long-term stakeholder. Still, it is a major creditor with 1.5 billion Norwegian crowns ($153 million) in loans made during the pandemic. Neighbouring Norway's government sold its remaining 10% stake in SAS in 2018, arguing there was no need for the state to own airline stocks. The country has said it wants to exit SAS completely in the long term. If the airline does raise new equity, this will reduce Sweden's stake. Stockholm said this month it would not provide new cash to SAS, though it approved the debt-for-equity plan. Sweden, which has already injected more than 8 billion Swedish crowns into SAS over recent decades, has taken a harder line on new financing. That may deter large investors and consortia that might have been interested in making sweeping changes at SAS, according to Sydbank analyst Jacob Pedersen. While the Danish government has promised to stay out of day-to-day business, it wants to protect its interests.ĭenmark wants "influence over the elements in SAS that are central to maintaining SAS' strong foothold in Denmark and contribution to Denmark's international accessibility," the finance ministry said this month. That could increase Copenhagen's stake in the airline to up to 30%.īut the government has made it a condition of the cash injection that SAS gets private investors to participate too. read more WHAT DOES DENMARK WANT?ĭenmark's parliament agreed this month to write off some of SAS' debt and convert some more into equity, as well as to inject new cash. On consumer review site Trustpilot, SAS is rated 1.5 out of five stars, just above Ryanair's 1.4.Īdding to SAS' trouble, some 1,000 SAS pilots in Denmark, Norway and Sweden plan to go on strike on June 29 over disagreements over wages and cost-cutting plans. Some cookies are technically necessary for the website to function and are. SAS uses cookies to enhance your experience and to make your visit on our website as pleasant as possible. Select your country/language, your preferred currency, and book your next flight among +130 destinations. In 2018, Norway sold its stake but holds. Welcome to Scandinavian Airlines Official Website. The airline is part-owned by the governments of Sweden and Denmark. The company has been in nearly constant financial trouble since the turn of the century, and last year lost 6.5 billion Swedish crowns ($638 million), with revenue just a third of pre-pandemic levels. Flights operated by SAS Link, SAS Connect and SAS external partners are not affected.
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