SAS is a popular share among small savers. The total number of owners amounts to approximately 255,000, of which almost 137,000 are in Sweden, according to the airline.
But now they will see their value disappear.
With the consortium, including the French-Dutch airline Air France-KLM and the Danish state, joining as new major owners of SAS, the company is expected to be delisted from the stock exchange next year. Thus, all shares become worthless.
“It is catastrophic news for the shareholders who still have SAS in their portfolio, despite all the warnings that have been given for a long time about selling,” says Joacim Olsson.
In an interview with Dagens industri, SAS CEO Anko van der Werff even warned that after the ongoing reconstruction process “there will only be a small, if any, value left for existing owners and creditors”.
— It is very unusual, but also very honorable that he is so open in his communication to the market, says Joacim Olsson.
TT: Is there anything to do for those who are still sitting on the stock?
— We have to study this more carefully and see if there is anything that could save a few cents, but my impression right now is that it is nothing strange. A model has been found to add capital to the company, it will be delisted and the value of the shares will be zero, says Joacim Olsson.
— But the short answer is: No, I don’t think there is anything to be done, he continues.