India, July 4 -- Air France-KLM Group (AFRAF.PK), an airline holding company, said on Friday that it has decided to buy a majority stake in the Scandinavian Airlines System, SAS.

Benjamin Smith, CEO of Air France-KLM, said: "Following their successful restructuring, SAS has delivered impressive performance, and we are confident that the airline's potential will continue to grow through deeper integration within the Air France-KLM Group."

Air France-KLM currently holds a 19.9% stake in the Scandinavian airline. Under the terms, the Group will fully acquire the stakes held by Castlelake and Lind Invest, bringing its own stake to 60.5% in SAS.

The Danish State will retain its 26.4% stake in SAS and its seats on the company's Board.

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