SAS traffic figures April 2022
SAS signs agreement to divest in Estonian Air
Since 2003 SAS has a 49% ownership in the Estonian based Estonian Air. According to the Core SAS strategy with focus on the Nordic home market this stake has been set out for divestment.
Today the SAS Group has reached an agreement, in principle, with the Estonian Government that will result in SAS divesting its 49% stake. The Estonian Government will provide approx MSEK 205 of new capital in a new rights issue and SAS will convert approx MSEK 20 in loans into equity. After the rights issue the Estonian Government will hold 90% and SAS 10% of Estonian Air. SAS will remain lender of approx MSEK 70 in loans with a maturity in 2014.
The transaction is neutral to profit and liquidity of the SAS Group. Estonian Air has an option to buy SAS remaining stake and SAS has the option to sell its stake at Fair Market Value after 4 years.
SAS will continue its commercial cooperation with Estonian Air.
About Estonian Air:
AS Estonian Air, Estonia's national carrier was founded on 1 December 1991. Estonian Air is owned by the Estonian state, SAS Group and investment bank AS Cresco. The home base of Estonian Air is Tallinn Airport.
As of today the fleet of the Group consists of six aircraft: two Boeing 737-500, two Boeing 737-300 and two Saab 340.
About SAS Group
SAS is the leading airline group in Northern Europe with 25 million passengers in 2009 to over 134 destinations and SEK 45 billion in revenues. SAS was Europe's most punctual major airline during 2009, with an overall arrival punctuality of 89.11%. SAS was also the world's third most punctual major airline for 2009.
Sture Stølen, VP Head of SAS Group Investor Relations +46 8 797 1451
SAS discloses this information pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was provided for publication on 4 June 2010, at 1:25 p.m. CET.