Scandinavian Airlines-SAS has made this announcement:
SAS has divested its 37.5% ownership in Air Greenland A/S to the Government of Greenland. The transaction is a result of several years of discussions and negotiations, ending an era of ownership which dates back over 50 years.
Under the agreement, which was closed today, the Government of Greenland will pay DKK277 million in cash for SAS’ 37.5% shareholding in the Greenland based airline group.
The transaction price is slightly above the book value, resulting in a marginal capital gain for SAS.
SAS would like to thank Air Greenland and its other shareholders – the Government of Greenland and the Danish State – for the good cooperation over the years and wish the airline all the best for the future.
Greenland’s national airline Grønlandsfly was founded in 1960. The company changed its name to Air Greenland in 2002 and has undergone rapid development during the last 50 years: From seaplanes to jet planes; and from helicopter services to scheduled services with fixed-wing aircraft. Then, as now, Air Greenland operates in Arctic airspace, which presents a unique range of challenges.
All above photos by Air Greenland.
Above Copyright Photo: Air Greenland Airbus A330-223 OY-GRN (msn 230) HAM (Gerd Beilfuss). Image: 928525.
Air Greenland aircraft slide show:
SAS issued this statement:
The Government of Denmark and the Government of Greenland have on September 10, 2018 come to a political agreement in which it is mentioned that the Government of Greenland will look into acquiring the shares in Air Greenland owned by the Danish State.
The acquisition is conditional on the two parties reaching satisfying agreements on a number of issues, including a satisfying agreement on the valuation of the shares.
Furthermore, the acquisition of the shares owned by the Danish State is conditional on getting the necessary approvals from the relevant authorities.
Following the political agreement mentioned above, SAS and the Government of Greenland also announce that the Government of Greenland will consider buying the 37.5% stake in Air Greenland owned by SAS.
This potential acquisition is subject to the same terms and conditions as outlined above, and conditional on SAS AB board approval.
Top Copyright Photo (all others by Air Greenland): Air Greenland Airbus A330-223 OY-GRN (msn 230) ZRH (Rolf Wallner). Image: 922693.
Air Greenland aircraft slide show:
Air Greenland (Kangerlussuaq) will again operate two summer routes this coming summer: Kangerlussuaq-Copenhagen (June 22 through August 13) and Narsarsuar-Copenhagen (June 19 through August 30). Both seasonal routes will operate three days a week. The airline is also expected to lease in a Boeing 737-300 from Jettime for the summer flying.
Copyright Photo: Brian McDonough. Please click on photo for additional information.
Tasman Cargo Airlines (formerly Asian Express Airlines) (Sydney), a contract supplier for DHL, will replace its existing Boeing 727-200F freighter which has reached its retirement age. The replacement aircraft will be a Boeing 757-200 PCF freighter.
Precision Conversion has been awarded the contract to provide DHL with a full 15-pallet position 757-200 PCF freighter. The 1992 ex-Air Greenland, Rolls-Royce powered, Boeing 757-236 (msn 25620) was acquired for conversion at the end of March and will be redelivered in June 2011. The aircraft will be modified by Flightstar Aircraft Services located in Jacksonville, Florida. Air Greenland operated the airliner as OY-GRL.
Tasman Cargo currently operates between Sydney and Auckland.
Top Copyright Photo: John Adlard. Boeing 727-2J7 VH-DHE (msn 22080) taxies at the SYD base in full DHL colors.
Bottom Copyright Photo: Stefan Sjogren. Boeing 757-236 OY-GRL (msn 22080) as it appeared with Air Greenland. OY-GRL lands at Stockholm (Arlanda).
Please click on the AG icon for a direct link to the Air Greenland photo gallery.
Air Greenland (Nuuk) on May 12 launched a new weekly route to Keflavik in Iceland. The new route is operated by Bombardier DHC-8-200s (Q200s). The company has just acquired two Q200s (OY-GRG, msn 488 and OY-GRH, msn 504).