SHARE
COPY LINK

SAS

Swedish state’s holdings outperform Stockholm exchange

The value of the Swedish state's stock portfolio grew by 55 billion kronor ($7.66 billion) in 2009, putting its current value slightly higher than it was in early 2007 before the financial crisis hit.

The value of the Swedish state’s stock portfolio has grown by 55 billion kronor ($7.66 billion) in 2009. Its current worth is somewhat larger than it was in the first half of 2007 before the financial crisis hit, reports Svenska Dagbladet newspaper.

At the beginning of 2009, the state’s shares in Nordea, Telia Sonera and SAS were valued at just under 95 billion kronor, the Svenska Dagbladet (SvD) newspaper reports.

As of Monday, the portfolio’s value had grown by 58 percent to 150 billion kronor, outpacing the 48 percent growth posted by the Stockholm stock exchange during 2009.

According to the E24.se financial news website, Nordea has been the main growth driver for Sweden’s investment portfolio.

Shares in the Nordic banking group have seen their value climb by 74 percent since the beginning of 2009. The value of SAS shares, on the other hand, has decreased by 32 percent.

The rise in the value of the Swedish state’s holding puts it back in the top spot as largest shareholder on the Stockholm exchange, a position it lost earlier in the year to Hennes & Mauritz owner Stefan Persson.

Persson’s shares in the clothing retailer are now valued at 116 billion kronor, up 32 percent for the year.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

SAS

‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers. 

SHOW COMMENTS