newstodate.aero
Aug 15, 2008 (newstodate): SAS has confirmed its intention to divest itself of its stake in Latvian carrier airBaltic.
SAS earlier said it would go for full ownership of the carrier as the Latvian government planned to privatise airBaltic where SAS holds 47 percent of shares.
The Latvian government has now decided not to let go its 53 percent ownership in the airline, and SAS will thus retreat from its earlier strategy and find new ways to secure its share of air transportation in the Baltic market.
SAS also owns 49 percent of Estonian Air and has earlier aired its interest in acquiring further stock.
flyLAL is the only Baltic carrier without SAS ownership, all shares of the airline belong to flyLAL Group consortium, owned by Lithuanian companies.
SAS earlier said it would go for full ownership of the carrier as the Latvian government planned to privatise airBaltic where SAS holds 47 percent of shares.
The Latvian government has now decided not to let go its 53 percent ownership in the airline, and SAS will thus retreat from its earlier strategy and find new ways to secure its share of air transportation in the Baltic market.
SAS also owns 49 percent of Estonian Air and has earlier aired its interest in acquiring further stock.
flyLAL is the only Baltic carrier without SAS ownership, all shares of the airline belong to flyLAL Group consortium, owned by Lithuanian companies.