Madrid crash hits SAS bookings

Scandinavia airline SAS said on Tuesday it expected a fatal crash involving daughter company Spanair to cost the firm an estimated 500 million kronor ($69.6 million).

SAS said forward bookings for Spanair have been affected by the accident in Madrid on August 20th.

“The initial effect was significant, but the bookings are gradually improving and is now almost in line with normal levels,” SAS said in a statement.

“The lower bookings will lead to a total result impact from the accident of approximately 500 million crowns”.