SAS to switch from Star Alliance to SkyTeam

A STAR ALLIANCE FOUNDING MEMBER plans to defect to SkyTeam following a restructuring that will see Air France-KLM take a stake in the Scandinavian carrier. SAS confirmed that it had reached “a major milestone” in its Chapter 11 process in the US, with a consortium including investment manager Castlelake, Lind Invest, Air France-KLM and the Danish government set to take control of the airline. Under the new structure, Air France-KLM will hold approximately 19.9 per cent of the equity, with the option to take a controlling stake after two years. This will result in the carrier “eventually” joining the SkyTeam alliance, of which Air France is a founding member. Ahead of this, SAS said it would “seek to establish a commercial cooperation with Air France-KLM and its airlines (subject to customary approvals) to the…

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Business Traveller Asia-Pacific Edition (Digital) - 1 Issue, November - December 2023

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