PARIS (dpa-AFX) - Air France-KLM Group (AFRAF.PK), an airline holding company, said on Friday that it has decided to buy a majority stake in the Scandinavian Airlines System, SAS.
Benjamin Smith, CEO of Air France-KLM, said: 'Following their successful restructuring, SAS has delivered impressive performance, and we are confident that the airline's potential will continue to grow through deeper integration within the Air France-KLM Group.'
Air France-KLM currently holds a 19.9% stake in the Scandinavian airline. Under the terms, the Group will fully acquire the stakes held by Castlelake and Lind Invest, bringing its own stake to 60.5% in SAS.
The Danish State will retain its 26.4% stake in SAS and its seats on the company's Board.
The value of Air France-KLM's proposed acquisition of stakes will be determined at closing, based on SAS's latest financial performance. The transaction is expected to be closed in the second half of 2026.
Post-transaction, SAS will become a subsidiary of the Air France-KLM Group. This acquisition is expected to allow Air France-KLM and SAS to fully unlock their synergy potential via a comprehensive integration in all areas of business.
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