December 4, 2023

SAS Scandinavian Airlines is another step closer to leaving bankruptcy in the hands of new owners and leaving its long-time Star Alliance membership for the SkyTeam alliance, where it will join KLM/AirFrance, which will now own 20% of SAS. The bankruptcy case, which was filed in the U.S., was in court late last month to receive approval of its bankruptcy plan, which includes $1.2 billion in new financing, and changes in ownership which will leave the Danish state holding 26% and U.S.