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SAS acquires 49 percent of Estonian Air

Sep 18, 2003
Staff and wire reports

TALLINNThe Scandinavian airline group SAS has signed an agreement with Maersk Airof Denmark to acquire 49 percent of the shares in the Tallinn-based airlineEstonian Air."About five months ago we decided to look for a buyer of our stake inEstonian Air because of two reasons. First, the overall crisis in theairline industry. Second, we wanted to focus on our primary market inDenmark. Estonian Air did not have essential synergy with Maersk outsideDenmark. The price offered by SAS was attractive," s ...

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