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Thursday, September 8, 2011

Saabs roller coaster ride continues

As many of you knows, Saab is still struggling with the financial situation. It's like a roller coaster ride, many positive and negative informations and articles every day.

Yesterday Saab was asking the court for reconstruction. The courts decision to day was : no. According to the fresh press conference with Victor Muller the reasons are : 1) it wouldn't help to save Saab and that there is not enough in-depth information and 2) lack of goodwill to the brand.

Saab was very dissapointed and the answer of Saab will be an appeal the decision and provide much more informations proving, that the reconstruction will be a success.

Another stakeholder in this fight are the Unions, which are holding their demand for bankruptcy as long as they can. Imho they know, that a Saab survival would be much in favor of them than the bankruptcy. However for sure there is a very tense atmosphere.

Also CLEPA, the European Association of Automotive Suppliers showed support for Saab : “If Saab pays its debts, or at least some of them, we will help get production up and running again”.

Saab has appx 245M€ on the horizon coming in from the Chinese partners.

You can watch the video from todays press conference from today here (

Cross fingers Saab. It's not over yet.

update : Saab will submit the appeal on Monday 12.9.2011 and Unions will file for bankruptcy on Tuesday 13.9. OMG. Things are getting sharper.

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