SAS’s Hotel Unit To Reach Profit
Scandinavian airlines, SAS’s loss-making hotel unit said on Wednesday it aimed for a stock market listing in 2006 at the earliest and would reach the profit zone this year.
SAS Rezidor’s CEO Kurt Ritter told the news agency Reuters that ”we are still too small to list. It requires a certain size.” Ritter added that Rezidor had almost reached its budget goals in the year to date and full-year profits were in sight.
Rezidor includes Radisson SAS hotels and many other hotels around the globe. Like the airline operations, the unit has suffered from falling demand amid a gloomy world economy.
Meanwhile, SAS and other airlines in Sweden could come to a stop in just under 2 weeks as the Swedish Transport Workers Union is threatening to call out airport workers on strike.
Sweden’s transport workers union says that as many as 25 hundred members will go on strike starting October 11th, in response to proposed changes in salaries and working hours at Scandinavian airline