Scandinavian Airlines just got overtaken by the local bus
Troubled SAS is now smaller than a bus company. Its market value has dropped to just SEK5.09b (US$546m), after its shares slumped almost 40% so far this year. That means that Nobina, the Nordic region’s largest public-transport service provider, is now bigger, with a market capitalisation of SEK5.11b. SAS has had a tough year, with challenges such as a competitive market, increasing jet fuel prices and a weak Swedish krona exacerbated by a pilot strike grounded some 4,000 flights. It will be a challenge to make a profit before taxes this year, SAS has said. To make matters worse, SAS is also grappling with so-called flying shame. The phenomena, in which Swedes shun airplanes in favour of more climate friendly alternatives or abstain from travelling altogether, is seemingly having a real impact on travel patterns. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-05/star/scandinavian-airlines-just-got-overtaken-by-the-local-bus
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Scandinavian Airlines just got overtaken by the local bus
Troubled SAS is now smaller than a bus company. Its market value has dropped to just SEK5.09b (US$546m), after its shares slumped almost 40% so far this year. That means that Nobina, the Nordic region’s largest public-transport service provider, is now bigger, with a market capitalisation of SEK5.11b. SAS has had a tough year, with challenges such as a competitive market, increasing jet fuel prices and a weak Swedish krona exacerbated by a pilot strike grounded some 4,000 flights. It will be a challenge to make a profit before taxes this year, SAS has said. To make matters worse, SAS is also grappling with so-called flying shame. The phenomena, in which Swedes shun airplanes in favour of more climate friendly alternatives or abstain from travelling altogether, is seemingly having a real impact on travel patterns. <br/>
