STOCKHOLM (Reuters) -Swedish airline SAS has been fined by the Stockholm bourse’s disciplinary committee over the way it handled information about a pilot strike on July 4.
SAS said on Friday 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.
Nasdaq Stockholm said in a separate statement the fine amounted to 1.96 million Swedish crowns ($175,553).
“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.($1 = 11.1647 Swedish crowns)
(Reporting by Anna Ringstrom, editing by Terje Solsvik, Stine Jacobsen and Jane Merriman)