[aviation news]
Air France–KLM has revealed plans to secure a majority stake in SAS, ushering in a pivotal moment for the Scandinavian airline and a significant shift in European aviation.
This strategic move aims to bolster SAS’ position as a competitive, sustainable, and globally connected carrier rooted in Scandinavia, with enhanced reach across Europe and beyond.
The acquisition marks a transformative chapter for SAS, reinforcing its long-term vision to deliver exceptional value to customers, employees, and the Scandinavian region.
Anko van der Werff, Sas President and CEOexplained the strategic benefits of this development: “Air France–KLM’s majority ownership signals strong confidence in SAS’s future.”
“Pending regulatory approval, this partnership will provide stability, foster deeper integration, and leverage the expertise of one of the world’s leading airline groups. Together, we’ll enhance customer experiences and strengthen our regional and global presence.”
SAS Progress to Date
Scandinavian Airlines (SAS) has shown remarkable resilience and progress in recent years, emerging as a competitive force in European aviation following significant challenges.
In 2023, SAS generated approximately 42 billion Swedish kronor in revenue. This marked a 32% increase from the previous year, signalling a strong recovery from the financial strain of the COVID-19 pandemic.
The airline carried 23.7 million passengers in fiscal year 2023. This was the highest since the pandemic began, reflecting robust demand and operational recovery.
Operational Performance
SAS’ operational performance has been a standout, with the airline ranking as Europe’s third most punctual carrier in 2024, boasting an on-time performance of 81.2% and a cancellation rate below 1%.
This reliability, despite Scandinavia’s harsh winter weather, underscores SAS’s commitment to efficiency and customer satisfaction. The airline’s focus on punctuality has earned it a top ten spot globally, according to Cirium’s On-Time Performance Review.
The airline’s strategic initiatives, led by CEO Anko van der Werff’s “SAS Forward” plan, have been pivotal. This strategy emphasizes cost-cutting, fleet modernization, and network expansion.
SAS is investing in fuel-efficient aircraft, including seven additional Airbus A320neos and two A350s, to enhance sustainability and passenger comfort. The airline has also introduced new routes, such as Copenhagen to Mumbai and Nuuk, Greenland, boosting connectivity.
Transition from Chapter 11
Financially, SAS exited U.S. Chapter 11 bankruptcy in August 2024. This was supported by a new ownership structure that includes Air France–KLM’s 19.9% stake (with plans to increase to a majority stake), the Danish government, and private investors.
This restructuring has strengthened SAS’s financial position, enabling further growth. The airline’s transition from Star Alliance to SkyTeam in September 2024 has expanded its codeshare agreements, enhancing global reach.
As global interest in Scandinavia grows, this partnership move positions SAS to better connect the region with the world. Copenhagen will serve as the primary global hub, while Oslo and Stockholm will maintain robust, strategic operations.
“We’re dedicated to preserving SAS’s Scandinavian identity, heritage, and customer focus,” Van der Werff added. “SAS will remain proudly Scandinavian in its heart, look, and feel.”
Conclusion
This acquisition aligns with a broader trend of consolidation in the aviation industry, a critical step for European airlines to remain competitive in a globalized market.
By aligning with Air France–KLM, the carrier is poised to navigate industry challenges while continuing to prioritize innovation and customer satisfaction.
Founded in 1946, SAS has long been Scandinavia’s leading airline. It maintains a global hub at Copenhagen Airport (CPH) and additional hubs at Oslo (OSL) and Stockholm (ARN).
This strategic partnership with Air France–KLM ensures the carrier remains a cornerstone of Scandinavian aviation while embracing new opportunities for growth and connectivity.
With regulatory approval pending, this collaboration promises to reshape the European aviation landscape. It should deliver a stronger, more connected SAS that continues to embody Scandinavian values while expanding its global reach.
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