Air France-KLM Acquires Majority Ownership of SAS
Air France-KLM has acquired over 60% of Scandinavian Airlines (SAS), marking a pivotal moment in the airline's evolution.
Key Points
- • Air France-KLM increases its stake in SAS to over 60%.
- • The Danish government retains a 26% share in SAS.
- • SAS CEO calls the acquisition a pivotal moment for the airline.
- • The deal is pending regulatory approval.
Air France-KLM has solidified its position in the aviation industry by acquiring over 60% of Scandinavian Airlines (SAS), marking a significant moment for the airline as it navigates through ongoing financial challenges. This acquisition, finalized through a transaction with investment firms Castlelake and Lind Invest, allows Air France-KLM to not only increase its stake but also to play a crucial role in SAS's future operations. The Danish government, which has been a long-time shareholder, will retain just over 26% of SAS, ensuring a degree of national control over the airline's direction.
SAS's CEO, Anko van der Werff, emphasized the importance of this transaction, calling it a pivotal moment that showcases renewed confidence in the company's future, allowing it to pursue new strategies and growth opportunities post-realignment of ownership. The deal is currently pending regulatory approval, which could impact the timeline for operational changes within SAS.
As the airline industry continues to struggle with recovery from the pandemic effects, this acquisition stands out as a strategic maneuver in adjusting the competitive landscape of European air travel. The shareholders are expected to provide an update on the finalization process shortly, with industry analysts closely monitoring the implications of this partnership for both SAS and Air France-KLM moving forward.