After presenting the best financial results in its history at the beginning of the year (for 2023), Ben Smith, the boss of Air France-KLM, was able to enjoy, this Wednesday, some additional good news: Brussels authorized him to acquire a stake of almost 20% in the capital of its Scandinavian competitor SAS. This is what the Franco-Dutch group considers to be the first step in acquiring a stake.
This is, recalls our specialist Bruno Trévidic, the most important operation since the acquisition of KLM a little over 20 years ago, and it is therefore an event. But it is above all a way to get back into the race for European airline consolidation. In recent years, Lufthansa has multiplied acquisitions (Swiss, Austrian, Brussels Airlines and the Italian ITA Airways), as has IAG (Iberia, Vueling, Aer Lingus).
