SAS has taken a majority stake in regional carrier Spanair and plans to bring the Spanish airline into the Star Alliance "in the near future" according to SAS chief Jurgen Lindegaard. For g62 million ($57.6 million) in cash and a g60.1 million debt-equity swap, SAS will gain 25% of local investment company Teinver's stake in Spanair, bringing its holding to 74%. SAS believes the Spanish domestic market has good growth potential and has been less affected by the 11 September attacks than international routes, although Spanair was recently forced to cut capacity and some routes.
Source: Flight International
