STOCKHOLM - Scandinavian airline SAS said on Thursday it would take part in a 7.3 million euro ($9.3 million) share issue by Estonian Air, in which it has a stake of 49 percent.
SAS said it would subscribe for its pro rata portion of the shares to be issued by converting 2.4 million euros of outstanding loans to Estonian Air into equity and by a cash payment of 1.2 million euros.
SAS, half of which is owned by Sweden, Norway and Denmark, said it wanted to protect the value of its ownership stake in Estonian Air.
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