Air France-KLM Group to Become Majority Owner of SAS
- Joe Breitfeller
- Jul 4
- 3 min read
Air France-KLM Group has today announced that they will initiate proceedings to take a majority state in SAS, marking a strategically important chapter for the Scandinavian airline and a landmark development in European aviation.
On Friday (July 4, 2025), Air France-announced that they will move to take majority ownership of SAS, reflecting the airlines’ long-term commitment to building a stronger, more connected and competitive SAS. The Group plans on increasing their current stake in SAS from 19.9 percent to 60.5 percent, by acquiring all shares held by Castlelake and Lind Invest, while The Danish State would retain its 26.4% stake and its seats on the Board of Directors. This marks a strategically important chapter in the evolution of the Scandinavian carrier, which will stay true to its Scandinavian roots, but will benefit from expanded reach and capabilities across Europe and beyond.
Today’s announcement also represents a landmark strategic development in the European aviation landscape. Subject to regulatory approvals, the goal is to close the transaction by the second half of 2026.
In Friday’s announcement, Air France-KLM Group’s CEO, Benjamin Smith, said,
“We look forward to welcoming SAS as a full member of the Air France-KLM family. SAS has performed very well following its successful restructuring, and we are confident that its potential will continue to grow through further integration within the Group. This would be beneficial for our customers and Scandinavian travellers, who would benefit from better connectivity, as well as for the SAS teams, whose commitment has been decisive in restoring their airline to the place it deserves. SAS would join a group of airlines united by a common ambition for excellence and a commitment to more sustainable air travel. We look forward to opening this new chapter together.”
In a separate press release, SAS’ President and CEO, Anko van der Werff, 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.
“This relationship is grounded in mutual respect, dedication to operational excellence and strong sustainability ambitions. As global interest in Scandinavia continues to grow, we believe this consolidation strengthens SAS’ ability to connect Scandinavia with the world—and the world with Scandinavia—by positioning Copenhagen as our global hub for the region, while continuing to uphold strong and strategic operations in both Oslo and Stockholm. We remain true to our identity, heritage, and deep customer focus. SAS will continue to be proudly Scandinavian at heart, look and feel.”
Founded in 1946, SAS is the leading airline in Scandinavia, with main hubs in Copenhagen, Oslo and Stockholm, and flying to 135 destinations across Europe, the U.S. and Asia. Each year, SAS serves over 25 million passengers and transports 60,000 tons of cargo, all facilitated by a passionate team of more than 10,000 colleagues. The company aims to be a driving force in sustainable aviation and in the transition towards net zero emissions by 2050. SAS also offers ground handling services, technical maintenance and air cargo services. SAS officially joined the global SkyTeam airline alliance in September 2024, and together with their partner airlines offers a wide network worldwide. On July 4, 2025, the Air France-KLM Group announced their intention to take a majority ownership stake in SAS, further expanding one of Europe’s leading aviation groups.
Source(s): Air France-KLM Group, SAS/Cision
