SAS value could double

Analysts said that Scandinavian Airlines (SAS), which is partially owned by the Norwegian, Danish and Swedish states, could rapidly double in value if the public authorities sold their shares and the stock structure were simplified.

Mike Powell, an analyst for Dresdner Bank's investment arm, said the airline has a great future but is undervalued by investors because of the heavy state involvement. Moreover, he said, the fact that the stock is divided in three to trade independently in Oslo, Copenhagen and Stockholm makes it hard for investors to evaluate the company.