Share trade in Scandinavian airline SAS halted

Associated Press

STOCKHOLM (AP) — The trade in shares of Scandinavian airline SAS AB has been temporarily halted on the Nordic stock exchanges after multiple media reports have speculated about the company's financial future.

In a market notice from the Stockholm stock exchange, Tuesday's action was attributed "to the news articles the last days concerning the company's financial situation" in order to "ensure a fair and orderly market." It did not provide more information about the decision, which was announced before the trading opened.

In the past week, local media has speculated that the Stockholm-headquartered group is planning to launch a new cost-cutting program and that it is having problems in seeking loans.

SAS was not immediately available for comment.