Air France-KLM plans to acquire a non-controlling stake of up to 19.9% in the share capital of SAS AB, contingent on approvals and conditions. This partnership aims to bolster Air France-KLM’s presence in Scandinavian markets through commercial cooperation between its airlines and SAS AB.
The consortium, which includes Air France-KLM, Castlelake, L.P., and Lind Invest ApS, has been selected as the winning bidder in SAS’s exit financing solicitation process. The proposed investment is subject to regulatory approvals, including those from the European Commission and the US court overseeing SAS AB’s Chapter 11 reorganisation. If approved, Air France-KLM’s investment would total USD 144.5 million, with the possibility of owning a maximum 19.9% non-controlling stake in SAS AB.
Additionally, Air France-KLM seeks to establish a commercial cooperation with SAS AB to expand its presence in Scandinavian markets and enhance connectivity for travellers. It means also that in the near future, SAS will leave the Star Alliance to join Skyteam.