The Greenlandic government has taken full ownership of Air Greenland, after Scandinavian Airlines (SAS) and the Danish government agreed to sell their shareholdings.
“Naalakkersuisut [the government of Greenland] has on May 29, 2019, concluded purchase agreements with the Danish government and SAS regarding the Danish state's shares of 25% and SAS's shares of 37.5% in Air Greenland,” the government of Greenland announced on May 29.
The agreement followed “several years of discussions and negotiations,” the government of Greenland said, adding that it finally found a solution that was “economically justifiable” for the national treasury.
SAS confirmed that it will receive DKK277 million ($41.4 million) for its 37.5% shareholding, resulting in a “marginal capital gain” and ending over 50 years of equity partnership between the two airlines.
“Naalakkersuisut would like to thank the Danish state and SAS for the many years of joint ownership and cooperation on the management of Air Greenland,” the government of Greenland said.