SAS finalises Spanair sale

SAS’s sale of its subsidiary Spanair has been finalised. For €1 a consortium – made up of the north Spanish region of Catalonia, the city of Barcelona and several private companies – has now a majority stake of 80.1 per cent of the company. SAS retains 19.9 per cent.

Spanair’s headquarters will now move from Palma in Mallorca to Barcelona Airport. SAS will continue to lease its aircraft to Spanair. It will have a capital increase of €100 million by the end of April, with SAS offering a bridge loan of up to €15 million until then if needed.