The Greenlandic Government may nationalize Air Greenland (GL, Nuuk) with studies over the possible acquisition of stakes in the carrier held by the Danish Government and SAS Scandinavian Airlines (SK, Copenhagen Kastrup) now underway.
In a statement issued on Wednesday, September 12, SAS said Greenland's acquisition of both its stake (37.5%) and that of the Danish state (25%) in Air Greenland was contingent on there being an agreement on share evaluation as well as regulatory approval.
Nuuk's interest in Copenhagen and SAS's shareholding comes after it reached an agreement with the Danes on Monday wherein Denmark would contribute to the development of two major airports in Greenland.
According to the terms of the agreement between the Danish and Greenlandic governments, Denmark will acquire a 33.3% stake in the Kalaallit Airports Company for DKK700 million krone (USD109 million). The entity, which is owned by the Greenlandic government, was established in 2016 to oversee the building, ownership and operation of airports in Nuuk, Ilulissat, and Qaqortoq.
