The Scandinavian airline SAS will see an increase in its ownership from the current 20% to 60.5%, according to a statement released by Air France-KLM on Friday. The price of the extra shares, which will be purchased from Castlelake and Lind Invest, will depend on SAS’s final financial performance.
If approved by the authorities, the deal is anticipated to be finalised in the second half of 2026. The European Commission will probably carefully examine the combination to make sure it doesn’t jeopardise fair competition. The Commission has already expressed some resistance to airline consolidation. Ryanair and Aer Lingus’s merger was repeatedly stalled, and IAG abandoned its intention to acquire Air Europa due to concerns that regulators wouldn’t approve the deal.
Anko van der Werff, president and CEO of SAS, stated, “We think this consolidation builds up SAS’ ability to connect Scandinavia with the world — and the world with Scandinavia — by placing Copenhagen as our worldwide hub for the area, while maintaining our strong and efficient operations in both Oslo and Stockholm.” This aligns with the ongoing growth of international interest in Scandinavia.
Air France-KLM CEO Benjamin Smith stated: “SAS has demonstrated outstanding performance since its successful reorganisation, and we are optimistic that the airline’s potential will continue to expand through further integration into the Air France-KLM Group. This operation would improve connection for all Scandinavians, including our customers.
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