SAS continues profit search with 80 percent sale of Norwegian regional carrier
Photo Credit: SAS A340 at Seattle Tacoma International Airport. Flickr / Andrew W. Sieber
Skift Take
The unprofitable SAS has gone through many restructuring and cost-cutting initiatives, and although it must retain Norwegian Air to compete in the short-haul market, puddle jumpers are an asset worth dumping.
SAS Group said it plans to sell 80 percent of its Wideroe Flyveselskap AS unit for 2 billion kroner ($310 million) as the Nordic region’s largest airline seeks to slash costs and return to profit.
SAS will retain a 20 percent stake in the Norwegian regional carrier, with the option to transfer full ownership to buyers Torghatten ASA, Fjord1 AS and Nordland Fylkeskommune in 2016, the Stockho
