The group Air France – KLM Group has announced that it has completed the acquisition of a minority stake of 19.9% of the capital of SAS AB following approval by regulatory authorities in Europe and the United States of America.
From 1st September 2024, extensive commercial cooperation will enter into force and SAS will join; as part of the SkyTeam airline alliance, Air France – KLM have also signed long-haul interline and codeshare agreements to connect their hubs and networks, actions that cover the mutual benefits of the loyalty program.
The group has invested a total of $ 144.5 million in SAS AB by subscribing $ 109.5 million in common stock and purchasing $ 35 million in senior collateralized convertible bonds.
This investment operation is part of the Air France – KLM strategy taken into account in the financial trajectory for 2024 without any impact on its medium-term prospects.
Specific provisions were agreed between the members of the consortium under which the shareholding of Air France – KLM could be increased so that the group could become the majority shareholder, after a minimum of two years, subject inter alia to certain regulatory conditions and financial results.
Link - https://www.expreso.info/index.php/noticias/transporte/102202_air_franceklm_completa_la_compra_del_199_de_scandinavian_sas
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