The government own and controlled Scandinavian airline SAS has announced a new share issue to raise 5 billion kronor ($674 million) as well as a program of cuts and savings designed to save a further 2 billion kronor.
For some reason the current Swedish government, lefties and Keynesians as they are, have decided to buy some of those shares, further making the Swedish people pay for a useless company going down. SAS is among the most expensive (maybe the most expensive) airline out there, their service is lousy and they rarely have the coverage I find useable. Basically it’s a crappy company.
Some have argued that government should take ownership responsibility, but what about responsibility to the tax payers? The voters? The horrible institution of SAS should be sold or go through bankruptcy, which would be the responsible thing to do.
This is what happens when you let politicians control and dictate policies within a company, it goes bad and then taxes need to be thrown at it to “save it”. Not to mention the unfair advantage of getting billions whenever needed...
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