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Company Watch - SAS Group.

For more company news, data and analysis, please go to: Jun 19, 2006

SAS Braathens indicted for accessing Norwegian's reservation system. Only one day after SAS Braathens CEO Petter Jansen resigned, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Okokrim) said it filed charges against the airline for illegal computer access and misuse of business secrets. The charges are based on a complaint filed by Norwegian last July in which the LCC argued that SAS had access to its electronic reservation system at a level of detail to which SAS was not entitled. Okokrim's investigation confirmed Norwegian's suspicion--SAS had access throughout 2003 and 2004 and up until November 2005. Jun 14, 2006

SAS Braathens, after posting an operating profit of SEK889 million ($114 million) last year on sales of SEK9.73 billion, SAS Braathens fell to an operating loss of SEK236 million in the first quarter of 2006 compared with an operating profit of SEK188 million in the year-ago period. However, this largely was owing to special factors, including SEK74 million in restructuring costs for staff reductions and costs for "irregularities in traffic" largely attributable to pilot sickouts during the quarte. SAS estimated the negative impact on earnings of the pilot actions at SEK140 million. In April, a strike by cabin staff resulted in "a sharp reduction in traffic" ahead of the Easter holiday, with a negative impact on earnings for the second quarter of SEK90 million. Jun 13, 2006

SAS Braathens CEO resigns in disagreement with board. SAS Braathens CEO Petter Jansen resigned from the airline yesterday, a day after disagreeing with the airline's board about the future direction of the Norwegian carrier, which is the largest member of the Scandinavian Airlines Businesses unit of SAS Group.Although SAS Braathens was the only member of SAB to post an operating or pre-tax profit in 2005, it has been hit by labor unrest in 2006 that contributed to first-quarter losses. Jun 13, 2006

SAS Technical Services announced it will close its maintenance base at Sola near Stavanger effective Aug. 31 in order to concentrate MRO activities "around the three main airports in Scandinavia." Approximately 265 jobs will be affected. Each employee will receive salary through the end of the year and employees over 59 years of age "are guaranteed" continued employment at SAS, which said it will assist those whose jobs are being eliminated to find new ones. Jun 13, 2006
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Publication:Airguide Online
Geographic Code:4EUSW
Date:Jun 19, 2006
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