Air France-KLM Takes Majority Stake in SAS
The move is expected to close sometime in the second half of next year.
Photo: Travers Lewis / Shutterstock.com
On Friday, Air France-KLM announced it was increasing its stake in Scandinavian Airlines (SAS) to 60.5%, up from 19.9%, making it the majority stakeholder. Air France-KLM first took a stake in SAS in 2023, investing $144.5 million for that initial 19.9%.
The move is expected to close sometime in the second half of next year, pending regulatory approval.
SAS will become a subsidiary of Air France-KLM, which now holds a majority stake in those carriers. The company also holds minority stakes in a number of other airlines, including Royal Air Maroc, Air Tahiti, Kenya Airways, and Air Corsica.
Announcing the move, SAS President and CEO Anko van der Werff said the deal is a “defining moment for SAS and a strong signal of confidence in the direction we’re heading.”
“It brings not just stability but will also allow for deeper industrial integration and the full backing of one of the world’s leading airline groups, once regulatory approval has been obtained. Together, we will be better positioned to deliver greater value to our customers, our colleagues, and the wider region.”
