At the end of last week, Air France-KLM announced it will be increasing its stake in SAS from 19.9 per cent to 60.5 per cent.

In August, SAS – Scandinavian Airlines exited US Chapter 11 bankruptcy proceedings having restructured debt of over $2 billion. Following SAS’ successful turnaround, Air France-KLM is looking to acquire a majority stake in the airline.

Speaking on the news, Anko van der Werff, President & CEO of SAS said:

“Air France-KLM becoming the majority owner would mark a defining moment for SAS and a strong signal of confidence in the direction we’re heading. It brings not just stability but will also allow for deeper industrial integration and the full backing of one of the world’s leading airline groups, once regulatory approval has been obtained. Together, we will be better positioned to deliver greater value to our customers, our colleagues, and the wider region.”

In their own announcement, the Air France-KLM group described the move as an opportunity to unlock synergies with considerable integration across all areas of business. Benjamin Smith, CEO of Air France-KLM said:

“We are excited by the prospect of fully welcoming SAS into the Air France-KLM family. Following their successful restructuring, SAS has delivered impressive performance, and we are confident that the airline’s potential will continue to grow through deeper integration within the Air France-KLM Group. This operation would benefit our customers and all Scandinavians who would enjoy enhanced connectivity, as well as the SAS teams whose dedication has been key to restore their airline to its rightful place. They would join a group of airlines united by a shared commitment to excellence and a more sustainable future for air transport. We look forward to this new chapter in our shared journey.” 

The deal remains subject to regulatory approval but Air France-KLM expects this to close in the second half of 2026. At last year’s World Aviation Festival, Van der Werff talked through the airline’s impressive recovery story, watch the full interview here.

 

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