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.

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“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.