Scandinavian Airlines (SAS) flights are seen listed at Copenhagen Airport Kastrup in Copenhagen, Denmark, July 3, 2022.
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCOPENHAGEN, Oct 4 (Reuters) - Shares in SAS (SAS.ST) tumbled 95% at market open on Wednesday after the Scandinavian airline announced new big shareholders late on Tuesday in a restructuring that will see the group delisted from bourses and existing ownership stakes erased.
SAS said U.S. investment firm Castlelake and Air France-KLM (AIRF.PA) would become new major shareholders in the airline alongside the Danish state following bankruptcy proceedings.
Castlelake will take a stake of about 32%, Air France-KLM will own around 20%, Lind Invest 8.6% and the Danish state will hold about 26%, SAS said.
SAS shares, which already tumbled in recent years traded down 79% at 0742 GMT to 0.06 Swedish crowns ($0.0054).
Persons:
Andrew Kelly, Lind, Louise Breusch Rasmussen, Anna Ringstrom, Terje Solsvik
Organizations:
Scandinavian Airlines, SAS, Copenhagen, REUTERS, Rights, Air France, KLM, Lind Invest, Thomson
Locations:
Copenhagen, Denmark, Rights COPENHAGEN, Danish, United States, Stockholm