The sale of 67 percent of SAS Component announced December 15 2005 to Singapore Technologies Engineering has now been completed. The closing follows the receipt of regulatory approvals and fulfilment of other conditions.
The SAS Group will release capital from its component inventories (rotable components and spares) so that the total value of the transaction is MEUR 260 or MSEK 2500. The positive effect on cash and net debt is approx 2000 MSEK.
SAS has signed a multi-year material supply agreement with SAS Component to provide material support, component repair and overhaul and logistics support for the SAS Group fleet of aircraft.
SAS Component is headquartered in Copenhagen, Denmark. With approx 1,100 employees, it is a global operator of aircraft components repair, management and logistics. The company has warehouses and repair shops in Copenhagen. It also operates large facilities at Arlanda Airport, Sweden, and Gardermoen Airport, Norway.