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SAS to sell holdings in 3 airlines

13 June 2007

Scandinavian travel group SAS AB said Wednesday it would sell its holdings in three airlines as it announced a savings package designed to cut costs by 2.8 billion kronor ($399 million).

SAS said it would sell its stakes in Spanair, bmi and Air Greenland and focus on its flagship carrier, Scandinavian Airlines, as well as its smaller airlines Blue 1, Wideroe, airBaltic and Estonian Air.

The package was initially planned to be presented on Thursday, but was moved forward because of market and media speculation on what it contained.

source: Chron

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