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SAS Buys Stake In Estonian Air

Sat Sep 13, 2003 6:19 am

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

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlinked webpage. Information was copied and pasted and not rephrased with the exception of quotes. Currency conversion from Swedish Krona to U.S.A. Dollars courtesy of the Singaporeair.com Currency Converter
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