SAS sells Widerøe to Norwegian investors

Two airlines will have “continued close cooperation”

SAS Group has signed an agreement to sell 80% of its shares in Widerøe’s Flyveselskap AS to a group of investors consisting of the transportation group Torghatten ASA, the ferry company Fjord1 AS and the county authority Nordland Fylkeskommune. SAS will keep a 20% share in Widerøe but intends to transfer full ownership of it in 2016.
Widerøe is a Norwegian regional airline operating a fleet of 35 Bombardier Dash 8 aircraft and serving 41 domestic and 6 international destinations.
SAS says the sale represents “an important step in the improvement of SAS’s financial position”. It will receive approximately SEK 2 billion (€235 million) in conjunction with the divestment.
SAS and Widerøe will have “continued close commercial cooperation after the transaction, with Widerøe remaining an important regional partner to SAS”.
As part of the transaction, SAS will sell seven Dash Q400 aircraft to Widerøe which are currently leased by Widerøe from SAS. Also three planes currently not in use have been sold from SAS to a lessor and subsequently leased by Widerøe.
TTG Nordic
[photo courtesy Widerøe]

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