Air France-KLM thinks that it can fully unlock the potential of SAS Scandinavian Airlines by acquiring the airline and getting it into its transatlantic alliance. This will be to the benefit of all parties involved. Group CEO Ben Smith shared some further thoughts on the intention of Air France-KLM to acquire 19.9 percent of SAS in Friday’s Q3 earnings call.
The acquisition proposal was announced by SAS on October 3, when the airline said that Air France-KLM, Castlelake, Lind Invest, and the Danish State would be buying a combined 60.5 percent of the Scandinavian airline for $1.175 billion. Air France-KLM will invest $144.5 million, of which $109.5 million in common shares and $35 million in secured convertible bonds. The acquisition is conditional on regulatory approval from the European Commission and the US Department of Transportation and other conditions.
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