Air France-KLM is set to increase its ownership stake in SAS from 19.9 to 60.5 percent, becoming the majority shareholder, signaling a significant turnaround for the airline after bankruptcy and reconstruction. This development follows SAS’s announcement of a DKK 25 billion investment to expand its fleet by up to 50 percent.

The increased ownership by Air France-KLM is viewed positively by stakeholders, including Aarhus-based billionaire Henrik Lind, who sees opportunities for synergies and further growth for SAS, benefiting customers.

SAS is expected to report a positive operating profit in the current financial year for the first time since 2019. This progress is attributed to SAS joining the SkyTeam alliance, which Air France-KLM is also a part of.

Air France-KLM’s acquisition of SAS is part of a broader trend of consolidation in the European aviation industry. The CEO of Air France-KLM, Ben Smith, expressed the company’s interest in leveraging Copenhagen Airport as a third central hub in Europe, alongside Amsterdam and Paris.

Analysts emphasize that Air France-KLM’s increased involvement will enable SAS to participate in a transatlantic joint venture with Air France, KLM, Delta, and Virgin Atlantic. Moreover, Copenhagen Airport’s expansion plans provide Air France-KLM with increased capacity, especially considering the restrictions at Amsterdam’s Schiphol Airport.

While former SAS shareholders experienced losses when the company was delisted, analysts suggest they should not feel misled, as the restructuring was necessary for the airline’s survival.