Scandinavian carrier SAS has formally become the 21st member of the SkyTeam alliance, having joined the group after withdrawing from Star Alliance.
SAS’s membership of SkyTeam – effective from 1 September – follows its emergence from US Chapter 11 protection, during which it underwent extensive restructuring.
As part of this restructuring SkyTeam’s Air France-KLM invested in SAS, taking a shareholding of 19.9%, with a view to SAS’s becoming a SkyTeam partner.
SAS is already codesharing with Air France-KLM and it states that options for codeshares with other alliance members will “follow later”. The carrier is seeking approval for an extensive codeshare with Delta Air Lines.
Customers will have “seamless” connectivity to more than 1,060 destinations in the SkyTeam network, SAS states, adding that its membership means SkyTeam will fly to both Svalbard in Norway and Ushuaia in Argentina – which claim to be the world’s most northerly and southerly commercial airports.
“Our customers will experience a smooth transition to SkyTeam, thanks to the tireless efforts of all SAS colleagues,” says chief executive Anko van der Werff.
“The partnership will open new opportunities for our passengers, expand our global network, and allow us to collaborate closely with like-minded airlines.”
Air France-KLM Group invested $144.5 million in SAS’s parent company, taking its minority stake after obtaining regulatory approval in Europe and the USA.
“SAS will enhance the group’s footprint in the Scandinavian markets,” says Air France-KLM chief Ben Smith.
Air France-KLM is part of a consortium which invested a total of $1.2 billion in the restructured SAS – including $475 million in shares and $725 million in senior secured convertible notes.
As part of the consortium agreement, there are provisions through which Air France-KLM could increase its stake in SAS – after a minimum of two years – and become a controlling shareholder in the Scandinavian carrier.
SkyTeam has 20 active members – Russia’s Aeroflot is currently suspended as a result of international sanctions – and chair Andres Conesa says the introduction of SAS “opens exciting new opportunities for customers”.
