STORY: Air France-KLM said on Friday it plans to increase its stake in Scandinavian airline SAS to 60.5%.

That's up from 19.9% now.

It says it will acquire the stakes held by top shareholders Castlelake and Lind Invest.

The purchase, subject to regulatory clearances, is expected to close in the second half of 2026.

The Scandinavian airline welcomed the announcement, calling it a "defining moment" to strengthen SAS.

And that it would continue to invest in its fleet and network.

Air France-KLM CEO Ben Smith told Reuters in March that the company was looking to raise its stake in SAS, as the carrier was meeting the necessary milestones.

These include its integration into the SkyTeam airline alliance, of which Air France-KLM is also a member.

Air France-KLM said control of SAS would allow it to expand in the Scandinavian market and create additional value for shareholders..

The stake sale comes amid pressure for more consolidation in Europe's fragmented air travel industry. Related Videos

01:49

June jobs report tops estimates: What it means for the Fed, markets

Yahoo Finance Video • yesterday 01:06

Intel's turnaround efforts are coming too 'late in the game'

Yahoo Finance Video • yesterday 03:25

IPO market check-in: Figma is in 'a postion of strength'

Yahoo Finance Video • yesterday 02:36

Trump's tax bill advances to the House: What happens now?

Yahoo Finance Video • yesterday

Airline executives say they need to compete with U.S. and Middle Eastern rivals.

SAS carried more than 25 million passengers last year, generating revenues of 4.8 billion dollars.

View Comments