SAS’ Renassaince continues. Together with the new routes, Air France-KLM has announced plans to become the majority shareholder of SAS Group, a move that signals a strategic shift in the European aviation landscape and strengthens the French-Dutch group’s presence in Scandinavia.
The airline giant intends to increase its stake in SAS from just under 20% to 60.5% by acquiring shares currently held by Castlelake and Lind Invest. Both Air France-KLM and SAS confirmed the news in press releases issued on Friday.
Despite the significant increase in ownership, the transaction will not affect the Danish government’s position on the SAS board or its shareholding, which remains at 26.4%.
A Defining Moment for SAS and Air France-KLM
SAS described the agreement as “a new and strategically important chapter for the Scandinavian airline and a milestone in the European aviation sector.”
SAS Group CEO Anko van der Werff hailed the deal as a defining moment for the company, emphasizing that Air France-KLM’s majority ownership will bring both stability and deeper industrial integration. Air France-KLM expects to obtain the necessary regulatory approvals and complete the transaction in the second half of 2026.
The news comes on the heels of another major announcement from SAS earlier this week. The Scandinavian carrier revealed its largest fleet investment since 1996, with plans to purchase 55 new aircraft from Brazilian manufacturer Embraer, in a deal valued at over 25 billion Danish kroner.
The investment, which will span the next four years, involves an initial order of 45 aircraft with an option for 10 more. The first deliveries are expected in 2027, marking a significant step in SAS’s efforts to modernize its fleet and improve efficiency.
