Airlines Norway to sell remaining SAS stake

  • SAS Group

The Government of Norway has announced, that it intends to sell its remaining stake of 9.88 per cent in Scandinavian carrier SAS.

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Norwegian Ministry of Trade, Industry and Fisheries said, that all 37,800,000 ordinary shares in SAS are to be sold. The government had previously stated, that Norway will not be a long-term owner of SAS. The 37,8 Million shares correspond to an overall stake of 9.88 per cent.

In the statement, the government said: “The transaction confirms previous communication by the Government stating that the Norwegian state is not a long-term owner of SAS. The Parliament has renewed the authorisation to sell shares several times, most recently in the 2018 national budget. The Transaction follows previous sale of shares in SAS by the Norwegian state and will, if all 37,800,000 shares are sold, complete the Norwegian state's divestment of its ownership stake in SAS.”

It however is not expected, that SAS will have to make operational or strategic changes after the transaction.

For the transaction, the Norwegian state appointed UBS, Pareto and Nordea for coordination. After all shares are being sold, the Norwegian government is expected to earn over 62,6 Million Euro.

The government of Sweden has also stated, that it plans to sell its remaining 14.8 per cent stake in the company. Denmark currently owns 14.2 of the SAS shares.

SAS Group is an airline holding company with headquarters in Sweden. It owns Scandinavian Airlines System (SAS) and Scandinavian Airlines Ireland, a subsidiary that launched operations in December 2017.

Overall, the group operates with a fleet of 159 aircraft, including four Airbus A319s, 18 A320neos, 11 A320ceos, eight A321s, eight A330s, eight A340s, 66 Boeing B737 Next Gen. and 28 Bombardier CRJ 900s and CRJ 1000s. SAS Group announced in April, that it will add 50 additional A320neo and one additional A330-300 to its fleet.

Mainline SAS operates flights to 122 destinations in 37 countries on 302 routes overall.

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