Air France-KLM announced today its plans to acquire a majority stake in Scandinavian carrier SAS.
The Air France-KLM group said on Friday it will acquire a majority stake in Scandinavian carrier SAS, marking a significant move in the ongoing consolidation of Europe’s airline industry.
The Franco-Dutch airline group currently holds a 19.9% stake in SAS but intends to raise that to 60.5% by purchasing shares from major stakeholders Castlelake and Lind Invest.
The Danish government, which currently owns 26.4% of SAS, will retain its share as well as representation on the airline’s board. However, once the deal is complete, Air France-KLM will hold a majority of board seats, effectively giving it control over the Scandinavian carrier.
The acquisition reflects broader efforts among European airlines to consolidate and compete more effectively in the global market.
