Air France-KLM has announced plans to raise its ownership in Scandinavian airline SAS from 19.9 percent to 60.5 percent, further consolidating its influence in European aviation.
The Franco-Dutch airline group stated on Friday 4 July 2025 that it will acquire shares currently held by Castlelake and Lind Invest, two of SAS’s largest shareholders. The deal is expected to close in the second half of 2026, pending regulatory approval.
The move is part of Air France-KLM’s broader strategy to strengthen its network and position in Europe’s competitive aviation market. Speaking at a press conference, CEO Ben Smith confirmed that Copenhagen Airport is central to these plans.
According to Danish business daily Finans, Smith said SAS is currently underrepresented on long-haul routes, and this will change under Air France-KLM’s control.
“Today, SAS is underweight on long-distance routes. We want more long-haul routes out of Copenhagen, because they don’t have their fair share today. There will be growth in the number of long-haul routes,” says Ben Smith.
The airline group also plans to invest in Copenhagen Airport to develop it into its third main hub, alongside Paris Charles de Gaulle and Amsterdam Schiphol.
SAS entered bankruptcy protection in 2022 and restructured under new ownership in 2023, with Air France-KLM becoming a strategic investor. The majority takeover, if approved, would fully integrate SAS into the Air France-KLM alliance structure and potentially elevate Copenhagen’s status as a long-haul gateway in Northern Europe.
