SAS Scandinvian Airlines System - a Member of Star Alliance - has announced that it is buying a 49% stake in Estonian Air.

The airline will pay SEK180 milllion / US$22.194 million which include technical maintenance operations. The airline expects synergy effects of SEK35 million / US$4.3155 million for FY04 and costs will be cut by not having to buy maintenance services in Tallinn, Estonia for SAS Group aircraft.

More information at the Dow Jones / Yahoo website

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