Air France-KLM to take majority stake in SAS

Air France-KLM has announced plans to take a majority stake in Scandinavian carrier SAS by the second half of 2026.

Air France-KLM currently holds a 19.9% stake in SAS, having joined a consortium which invested in the carrier after its exit from Chapter 11 bankruptcy protection two years ago.

It now plans to acquire the stakes of consortium partners Castlelake and Lind Invest, creating a majority shareholding of 60.5%.

SAS said the move would mark “a new and strategically important chapter for the Scandinavian carrier and a landmark strategic development in the European aviation landscape”.

Chief executive 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.”

SAS said the move reflected “a broader industry trend toward consolidation— a step that is essential to ensuring long-term competitiveness for European carriers in an increasingly globalised market”.