SAS Scandinavian Airlines (SK, Copenhagen Kastrup) is aiming to complete the sale of an 80% stake in Norwegian subsidiary, Widerøe (WF, Bodø), to a group of investors consisting of Torghatten ASA, Fjord1 AS and Nordland Fylkeskommune, by the end of September after receiving the go-ahead for the deal from Norway’s competition authorities. Widerøe's sale is expected to raise proceeds of USD310million (SEK2 billion) and is aimed squarely at improving SAS Group’s financial liquidity and reducing debt. SAS will retain a 20% share in Widerøe but will have an option to transfer full ownership of Widerøe in 2016. The two carriers still intend to carry on their commercial cooperation after the sale is completed.