SAS sells off supply business

Scandinavian Airlines System (SAS) said on Thursday it had agreed to sell 67% of its SAS Component Group unit to Singapore Technologies Engineering for 80.4 million euros.

The business employs 1,100 people and provides repair services and material supply to SAS and other airlines.

The Scandinavian carrier is holding on to a 33% minority stake in SAS Component and has signed a multi-year maintenance agreement with the unit.