HomeTravel NewsAir France-KLM to Take Near 20% Stake in SAS Scandinavian Airlines

Air France-KLM to Take Near 20% Stake in SAS Scandinavian Airlines

Air France-KLM is set to take a near 20% stake in SAS Scandinavian Airlines in return for a $144.5m investment.

The investment will help SAS exit from Chapter 11 bankruptcy proceedings.

The move – which will see the Paris-headquartered group take a 19.9% stake in SAS – will also see Air France-KLM enter certain commercial synergies with SAS – including brand and loyalty programmes – and extend its presence in Scandinavia, through improved connectivity.

Benjamin Smith, CEO of Air France-KLM stated: “This is an important day for SAS and for Air France-KLM. We are pleased to be part of the winning bidding consortium selected by the board of SAS. Air France-KLM looks forward to establishing strong commercial ties with SAS. With its well-established position in Scandinavia and strong brand, SAS offers tremendous potential to Air France-KLM. This co-operation will allow Air France-KLM to enhance its position in the Nordics and improve connectivity for Scandinavian and European travelers. We look forward to being a part of this new chapter in SAS’ history and thank the board of SAS for their trust.”

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.

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