SAS Group

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SAS AB, trading as SAS Group, is a Swedish-based airline holding company headquartered in Solna Municipality, Sweden. It is the owner of the airlines Scandinavian Airlines, SAS Link, and SAS Connect. As of 2024, SAS Group is owned by a group of shareholders including the American investment fund Castlelake, L.P. (in turn controlled by Brookfield Asset Management) with a 32% stake, the Government of Denmark (through the Ministry of Finance) with a 25.8% stake, Air France-KLM with a 19.9% stake and the Danish family office Lind Invest with a 8.6% stake. This ownership structure emerged after the company exited U.S. Chapter 11 bankruptcy in August 2024, a process initiated in July 2022 due to the group's financial difficulties. SAS was formed as a consortium in 1951, as a merger between the three Scandinavian flag carriers Aerotransport (ABA - Sweden), Det Danske Luftfartselskab (DDL - Denmark), and Det Norske Luftfartselskap (DNL - Norway), after the three had been cooperating on international routes since 1946. Until 2001, the three national companies owned a fixed share of the SAS Group, after which the shares of the three companies were merged into SAS AB. Norway sold its final 9.88% stake in June 2018, marking the end of its involvement in SAS after being a part-owner since 1946. The Swedish government maintained a 21.8% stake until the 2024 restructuring. SAS Group previously owned various entities, including Rezidor Hotel Group (owner of the Radisson SAS brand) and Braathens. It also had a minority interest in bmi, airBaltic, Texas Air Corporation, Thai Airways International, and LAN Airlines. SAS also once owned 19.9% of the now defunct Spanish airline Spanair as well as shares in Estonian Air and Skyways Express. SAS was a founder of the Amadeus Computerised Reservation System and the Star Alliance, which it left on...