Scandinavian bailout divides shareholders
Governments of Sweden and Denmark have different views on recapitalization
The bailout of Scandinavian Airlines divides its two main shareholders, namely the governments of Sweden (21.8 percent) and Denmark (21.8 percent), which cannot find unity of views. The airline had recently announced the need to recapitalize the company by about 900 million euros, at the same time converting part of the accumulated debt into shares; a decision is expected in mid-June.
Meanwhile, Stockholm is putting the brakes on. Sweden has announced that it does not want to participate in the recapitalization of the ailing air carrier, after it has financially supported the company with more than 781 million euros over the past decade, particularly during the pandemic crisis. Copenhagen is more possibilistic: Danish Finance Minister Nicolai Wammen said that despite Sweden's decision, "we will evaluate Scandinavian Airlines' plan to see how the government can contribute".
AVIONEWS - World Aeronautical Press Agency