Air Transport World

SAS Group to sell Spanair, bmi holdings.(FINANCIAL RESULTS, NEW DEALS, AND REPORTS FROM EVERY CORNER OF THE GLOBE)(Scandinavian Airlines System. SAS Flight Academy)(Brief article)

SAS Group is to sell off some of its noncore airline units in order to focus on its core business, "flying to, from and within Northern Europe." Among airline holdings to be sold are Spanair, Air Greenland and its 20% stake in bmi. It also will evaluate "the future structure" of SAS Ground Services, SAS Technical Services and Spirit Air Cargo Handling. It previously sold SAS Component to Singapore Technologies Aerospace and SAS Flight Academy to Star Capital Partners. SAS will retain its investments in Blue1, Wideroe, airBaltic and Estonian Air.

"To ensure our development and cover our future investment needs we must from now until 2011 increase our pre-tax profit to approximately SEK4 billion per year while simultaneously lowering our costs by SEK2. …

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