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Airline SAS makes fourth quarter loss, shares dive

6 February 2008

Shares in Scandinavian airline SAS dived on Wednesday after it posted a fourth-quarter loss on problems with its Dash 8 Q400 planes and said it faced delays in turnaround plans and a worsening economic situation.

The airline, half of which is owned by Sweden, Norway and Denmark, added that replacing its fleet of Dash 8 Q400’s, permanently grounded after landing gear issues caused three emergency landings last autumn, would add to costs in 2008.

SAS shares were down 10.6 percent at 55 crowns by 1302 GMT, having hit 53.50 crowns — its lowest for more than three years.

source: Guardian Unlimited

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