Stockholm bourse fines SAS over late pilot strike statement

Stockholm bourse fines SAS over late pilot strike statement
© Reuters. SAS aircraft is parked on the ground during a pilot strike at Copenhagen Airport, Denmark July 18, 2022. Ritzau Scanpix/Liselotte Sabroe via REUTERS/File Photo

STOCKHOLM (Reuters) – SAS said on Friday the Stockholm bourse’s disciplinary committee had slapped the airline with a fine relating to its information handling in connection with the outbreak of a pilot strike on July 4.

SAS said reporters outside the venue in Stockholm for the mediation had been informed of the breakdown in talks and the strike a few minutes before the company published a statement on the news.

It said Nasdaq Stockholm had therefore given it a fine corresponding to three times SAS’s annual fee to the stock exchange. It was not immediately clear how large the fee is and a SAS spokesperson declined to specify the amount.

“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,” it said in a statement on Friday.

Source: Reuters