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Stockholm Bourse Fines SAS Over Delay To Statement About Pilot Strike

By Dave Simpson

Swedish airline SAS has been fined by the Stockholm bourse's disciplinary committee over the way it handled information about a pilot strike on 4 July.

Details

SAS said on Friday 23 September reporters waiting outside the building where talks on the dispute were taking place were told about the breakdown of the negotiations and the strike a few minutes before the company issued an official statement on these developments.

The airline said Nasdaq Stockholm, which operates the Stockholm stock exchange, had imposed a fine corresponding to three times SAS's annual fee to the exchange.

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Nasdaq Stockholm said in a separate statement the fine amounted to 1.96 million Swedish crowns ($175,553).

Statement

"SAS has taken measures to strengthen the procedures aimed at ensuring that insider information does not reach the media before the company has completed the distribution of a regulatory press release," the airline said in its statement.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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