Air France-KLM is set to acquire a stake in SAS as part of a Chapter 11 reorganization, reports BTN Europe.
A consortium, including Air France-KLM, the Danish government, Castlelake, and Lind Invest, will assume control of SAS. Pending approval, Air France-KLM will hold 19.9% equity with an option to gain a controlling stake after two years. Consequently, SAS will exit Star Alliance and join SkyTeam, where Air France-KLM is a founding member.
SAS Chairman Carsten Dilling described the move as pivotal for their transformation plan, "SAS FORWARD," emphasizing the capital's role in ensuring the airline's financial stability. The collaboration aims to enhance connectivity for Scandinavian and European travellers.
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