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The SAS Group completes the sale of 67% of SAS Component to Singapore Technologies Engineering

March 15, 2006 16:21

The SAS Group has completed the previous agreement announced on December 15 2005, regarding the sale of 67% of SAS Component. The closing follows the receipt of regulatory approvals and fulfilment of other closing conditions.

The SAS Group will release capital from its component inventories (rotable components and spares) so that the total value of the transaction is MEUR 260 or MSEK 2500. The positive effect on cash and net debt is approx 2000 MSEK.

SAS has signed a multi-year material supply agreement with SAS Component to provide material support, component repair and overhaul and logistics support for the SAS Group fleet of aircraft.

SAS Component is headquartered in Copenhagen, Denmark. With approx 1,100 employees, it is a global operator of aircraft components repair, management and logistics, enabling customers to function with a minimum of unscheduled maintenance or repair stops. The company has warehouses and repair shops in Copenhagen. It also operates large facilities that are located at Arlanda Airport, Sweden, and Gardermoen Airport, Norway.

For further information please contact:
Sture Stölen
VP Investor Relations
+46 70 997 1451

Hans Ollongren
SVP, Corporate Communications
+46 70 997 1950

SAS Group Investor Relations

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