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SAS TO HOLD MAJORITY IN SPANAIR

SCANDINAVIA, Scandinavian Airlines System (SAS) is to gain the majority of Spanair increasing its stake in the airline from 49% to 74% after an agreement with the Spanish air carrier's principal shareholder Teinver. SAS will get the stake by converting loans of 60.1 million euros (dlrs 54.2 million) into stock and making an additional cash payment of 52 million euros (dlrs 47 million).

AVIONEWS - World Aeronautical Press Agency - 19545
Rome, Italy, 11/05/2001 12:16
AVIONEWS - World Aeronautical Press Agency

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