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   Air France-KLM, together with a consortium of investment funds Castlelake and   
   Lind and the Danish state, is taking over the Scandinavian airline SAS. The   
   French-Dutch aviation group will receive a maximum of 19.9 percent of the   
   shares. As a result of the transaction, SAS will leave Star Alliance and join   
   SkyTeam, the airline alliance that also includes Air France and KLM. This was   
   announced this evening.   
       
   The four parties together pump almost 1.2 billion dollars into SAS, so that   
   the ailing company can exit the so-called Chapter 11 procedure in the United   
   States. The four together own almost all the shares. As a result, the   
   Scandinavian airline, which has bases in Denmark, Sweden and Norway, will   
   leave the stock exchange. SAS is largely led by Dutch people (ex-KLM   
   employees).   
       
   Air France-KLM CEO Ben Smith: "This is an important day for SAS and for Air   
   France-KLM. We are pleased to be part of the winning bidding consortium   
   selected by the SAS board. Air France-KLM looks forward to establishing strong   
   commercial ties with SAS. With its established position in Scandinavia and its   
   strong brand, SAS offers enormous potential to Air France-KLM." The   
   acquisition is still subject to approval by the authorities.   
       
   With the investment in and collaboration with SAS, Air France-KLM is taking an   
   important step in the consolidation of the European aviation sector. SAS's   
   three home markets (Denmark, Sweden and Norway) are very prosperous and   
   together have a population of over 20 million people. The company has a fleet   
   of almost 100 aircraft, including eleven widebodies (seven A330s and four   
   A350s). The European fleet largely consists of the modern Airbus A320neo   
   family.   
       
   The Danish government was already one of the shareholders of SAS, and is now   
   further expanding its stake to approximately 26 percent. 32 percent of the   
   shares go to Castlelake, and just over 8 percent to Lind Invest. Air   
   France-KLM therefore becomes the third largest shareholder.   
      
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