SAS Shocks with Alliance Switch to Air France-KLM and SkyTeam
Scandinavian Airlines (SAS) plans to leave the Star Alliance and join the SkyTeam alliance in a new tie-up with Air France-KLM. The move, pending regulatory and shareholder approvals, comes after Air France-KLM won a bid to provide exit financing for SAS to emerge from bankruptcy protection. If approved, Air France-KLM would hold a noncontrolling 19.99% stake in SAS, allowing the airlines to coordinate schedules across multiple hubs. This decision reflects the ongoing consolidation in the European airline industry, with Lufthansa Group recently acquiring a stake in ITA Airways and speculation surrounding the potential sale of TAP Air Portugal.