SAS dumps its stake in regional airline Skyways

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Scandinavian airline SAS on Monday sold its remaining 19.9 percent stake in regional airline Skyways for a capital loss of about 40 million crowns ($5.54 million).

SAS has had to slash costs and restructure as it seeks to return to profit in 2011.

“SAS Group has today further simplified its corporate structure by divesting its remaining 19.9 percent shareholding in the regional airline Skyways Holding AB,” the group said in a statement.

It said the shares were purchased by Largus Holding AB, a company fully owned by the Salan family, which already owns the remaining 80.1 percent of Skyways.