It’s time for Plan B

The newspaper from Trollhättan, TTELA, states that Saab has been working since earlier this weekend on a Plan B for the short term financing.

This new short term financing doesn’t need any real estate transactions and thus permission from the EIB wouldn’t be needed. Don’t expect to hear more rumors or news about that until the whole thing is done, which should happen during this week.

It is a plan B, so it is for sure not the best solution for Saab, but it seems like the only way to move forward is by avoiding the bureaucrats.

Production has been stopped for the last three weeks, but the rest of the company has been working all the time, to either create the products we love or to get the financing problem solved. Now it’s time for us to be patient while we wait for good news. The solution will come, but maybe not as fast as many have hoped.

10 thoughts on “It’s time for Plan B”

  1. One thing is sure. The guys in Trollhättan are once again showing that there are always alternatives when there’s a strong will. If there’s a will there’s a way. I’m losing my sleep over this, but we will succeed once again.

  2. These guys and gals are real modern heroes!! Is is just so great to be a part (although as an eager outside spectator) of this whole community that is SAAB.

  3. I vote for Plan B. Lease back gives short time money (cash in) but rising the running costs which could be worth in the end. Lease back could be interesting for companies with big revenue to reduce tax payments.

  4. Plan C I become dictator of Sweden producing many awesome Saabs and Volvos that humiliate all BMW and Mercedes trash. Well, except for my Mercedes, which is a classic road car, not trash!

  5. Short term financing is not really a solution, it’s more of a lifeline. I believe SAAB needs to come up with an ultra-conservative equity and long term debt structure, so that the long-term financing can cover a good portion of the current cash cycle. It may not be the most financially efficient way of organizing a capital structure, but it would be stable and SAAB needs as much stability/predictability as possible. I think that should have been Plan B from the beginning.

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