SAS to sell off eastern retail business
8 Mar 2005, 12:38
Published: 08 Mar 2005 12:38 GMT+01:00
The SAS Group's east European activities comprising SAS Trading Polska, SAS Trading Latvia and Scandinavian Travel Retail Eesti had combined total sales of 176 million kronor last year.
The east European travel retail business is a growing market and the continued development of SAS Trading's travel retail shops will be further strengthened by an owner that has travel retail as its core business.
Inflight Service Europe, based in Sweden, provides products, services and business solutions in the Nordic travel retail market. Already holding a leading position in the Nordic market with retail customers at airports, on charter airlines and on ferries, the acquisition of Euroshop is likely to strengthen their position. Last year the company recorded sales of 1.3 billion kronor.
Before the takeover can be concluded the agreement between the SAS Group and Inflight Service Europe is to be reviewed by the relevant authorities. It is expected that, if approval is granted, the transaction should be completed by the spring.
In other SAS news, February saw an increase in the number of passengers flying with SAS Group. Compared to Feburary last year the number of passengers increased 0.8% following the 8.1% increase in January.
However, the figure for Scandinavian Airlines was not as positive with a 5% decrease in passengers.