Overview

• Air France-KLM has triggered a contractual option from summer 2024 to boost its stake in SAS from 19.9 percent to 60.5 percent by acquiring Castlelake’s and Lind Invest’s shares.
• The move follows SAS’s 2022 bankruptcy restructuring and its emergence with the world’s best punctuality, underscoring its operational turnaround.
• Regulatory clearances and the lifting of contractual conditions are required before the majority acquisition can close.
• The Danish state will retain a 26.4 percent holding in SAS and maintain its seats on the airline’s board of directors.
• Upon closing, SAS will become a subsidiary of AF-KLM, paving the way for integrated route networks, loyalty program alignment and group procurement synergies.