Tag Archives: OY-GRN

SAS divests its shareholding in Air Greenland to the Government of Greenland

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.

Air Greenland Airbus A330-223 OY-GRN (msn 230) HAM (Gerd Beilfuss). Image: 928525.

Above Copyright Photo: Air Greenland Airbus A330-223 OY-GRN (msn 230) HAM (Gerd Beilfuss). Image: 928525.

Air Greenland aircraft slide show:

Video:

Route Map:

SAS may sell its 37.5% share in Air Greenland

Airline Color Scheme - Introduced 2002

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:

Route Map: