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SAS completes acquisition of Cimber

After meeting all the terms of the transaction, SAS has completed its acquisition of Cimber, appointing Kent Hansen as the new president of the Danish carrier.
Hansen will succeed Cimber’s current president from 1 March dependent on approval from the authorities. He will join the airline from his role at the Danish Transport Authority where he is currently head of division at the Centre for Aviation. SAS has also appointed Kjetil Grønevik as finance director.
Following an announcement from SAS on 8 December 2014, that it had agreed to acquire 100% of the shares in Cimber and that the value of the transaction was DKK 20 million, the Danish Competition and Consumer Authority has now notified SAS of its approval of the agreement.
“With formal approval now in place, we look forward to making rapid progress in establishing the company as an efficient airline specialising in regional air traffic. We will build a simple, focused and flexible organisation that is able to deliver SAS’s well-known product to our customers with punctuality, service and many departures,” remarked SAS president and CEO Rickard Gustafson.
Furthermore, the acquisition means an opportunity for SAS to transfer production by its 12 CRJ900s to Cimber, thereby allowing more focused and flexible production to be achieved.

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