March 25th, 2006
SAS may divest hotel business
IRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTDScandinavian airline group SAS is reportedly considering a divestment of its hotels unit.
The group’s chief executive Jorgen Lindegaard said that any sale or listing of the Rezidor hotel business would only be made when the equity markets have improved.
SAS is currently operating at a loss and has been divesting non-core operations and cutting costs in an effort to return to profit next year.