Tuesday, August 19, 2008

Will Scandinavian Airline SAS stay in the Baltics?

The Scandinavian Airline has recently decided to sell 47,2% of its shares in AirBa ltic, the Latvian airline based in Riga. The Latvian government did not want its national airline to grow under private ownership and hence wants to become major shareholder.

SAS also owns 49% shares in the Estonian Air, and people start wondering if the Swedish airline company is still interested in the Baltic countries.

SAS investor relations manager, Sture Stølen, claims that “our strategy strategy in Estonia is still to become a major shareholder in Estonian Air but it depends on what the Estonian government wants”.
Apparently, SAS interest in the Baltic countries has not decreased but their ambitions will be tightly linked to the local governments’ aspirations.

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