SAS – Im out

SAS came with a surprisingly weak quarterly report today, well below consensus estimates. On top off that the Swedish Pilots are threatening to strike again and are demanding 3.5% salary increases as well as stronger protection for newly hired pilots (bacisxally meaning they should be paid well too). Although all this is not catastrophy as a Preference share holder, I no longer see the same upside in the Pref. In this case I must say my analysis done 3 months ago, so far turned out wrong, but my bet on the Pref share anyway turned out above expectation. I sold the first half a week ago and Im happy to give away the rest of my Prefs at these levels.

Leave a Reply

Your email address will not be published. Required fields are marked *