[aviation news]
Majority participation in SAS will allow Air France-KLM to expand operations in Scandinavian countries
The Air France-Klm Group announced on Friday (4), the beginning of the process to acquire majority participation in the Scandinava SAS airline. The movement expands the presence of the group in Scandinavian countries and reinforces its expansion strategy in Europe, especially in Sweden, Norway and Denmark.
Currently holding 19.9% ​​of SAS shares, the Air France-KLM group plans to raise their slice to 60.5%, fully buying the Castlelake and Lind Invest stakes. The Danish state will remain 26.4% of the company and will keep seats in the Board of Directors.
Since the European summer of 2024, Air France, KLM and SAS operated in commercial partnership with expanded flight and ticketing agreements, as well as SAS entry into the Global Skyteam alliance.
The completion of the transaction is scheduled for the second half of 2026, subject to regulatory approvals and compliance with legal requirements. The amount of the investment will be defined at the closing of the agreement, considering the financial performance of SAS, including EBITDA and net debt.
With the acquisition, SAS will be subsidiary of the Air France-KLM Group, allowing full integration in areas such as loyalty and commercial operations. The group will also assume a majority in the board of directors of the company Scandinava.
According to Benjamin Smith, CEO of Air France-Klm, the decision is motivated by improving SAS financial and operational performance, the success of the current commercial cooperation and the company’s long-term confidence.
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