SAS Scandinavian Airlines (SK, Copenhagen Kastrup) has reached an agreement with a group of Spanish investors from the Catalonia region, Consorci de Turisme de Barcelona and Catalana, to sell a majority stake in subsidiary Spanair (JK/Palma de Mallorca). SAS will remain a minority shareholder under the plan and the deal is expected to be finalized in early 2009. SAS has also agreed to sell its 47.2% stake in Air Baltic (BT/Riga) to the management of the Latvian carrier. It is expected to continue to cooperate closely with Air Baltic on routes between Scandinavia and the Baltic countries.