The Norwegian government has announced it has sold its remaining equity in SAS Scandinavian Airlines (SK, Copenhagen Kastrup).

A statement issued by the Norwegian Ministry of Trade, Industry and Fisheries on Tuesday, June 26, said it would sell up to 37,800,000 ordinary shares in SAS, equivalent to a 9.88% stake.

"The transaction confirms previous communication by the Government stating that the Norwegian state is not a long-term owner of SAS," it said. "The Norwegian state's ownership in SAS has been purely commercial."

Oslo subsequently announced on Wednesday, June 27, that it had sold the stake to an unspecified third party for SEK652 million Swedish kronor (USD73.42 million dollars).

Over the past 24 months, Sweden, Norway, and Denmark have collectively moved to water down their respective shareholdings in SAS.