Newscasts - Air France-KLM to take majority stake in Scandinavian airline SAS

Linde

04/07/2025 11:03

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Source: 'Reuters - Business videos'

Description: Air France-KLM said on Friday it plans to increase its stake in Scandinavian airline SAS to 60.5%, up from 19.9% currently, by acquiring the stakes held by top shareholder Castlelake and Lind Invest. Ciara Lee reports.

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Video Transcript:

Air France-KLM said on Friday it plans to increase its stake in Scandinavian airline SAS to 60.5%. That's up from 19.9% now. It says it will acquire the stakes held by top shareholders Castlelake and Lind Invest. The purchase, subject to regulatory clearances, is expected to close in the second half of 2026. The Scandinavian airline welcomed the announcement, calling it a "defining moment" to strengthen SAS. And that it would continue to invest in its fleet and network. Air France-KLM CEO Ben Smith told Reuters in March that the company was looking to raise its stake in SAS, as the carrier was meeting the necessary milestones. These include its integration into the SkyTeam airline alliance, of which Air France-KLM is also a member. Air France-KLM said control of SAS would allow it to expand in the Scandinavian market and create additional value for shareholders. The stake sale comes amid pressure for more consolidation in Europe's fragmented air travel industry. Airline executives say they need to compete with US and Middle Eastern rivals. SAS carried more than 25 million passengers last year, generating revenues of $4.8 billion.