Norway sells remaining stake in Scandinavian Airlines

COPENHAGEN, Denmark — Norway has sold its remaining stake in Scandinavian Airlines, saying the move will strengthen the carrier by reducing state ownership.

Trade and Industry Minister Torbjoern Roe Isaksen says Norway sold Wednesday its remaining 37.8 million shares, representing nearly 9.90 percent of the airline.

Roe Isaksen said the government believes it is “a good time to sell,” adding “there is no reason to believe that a changed ownership will not affect jobs, (SAS’) grids or other operating conditions in the company.”

Norway originally held a 14.3 percent stake in the Swedish, Danish and Norwegian airline. In October 2016, Norway and Sweden reduced their ownership and sold a total of 23 million shares, while Denmark, which owns 14 percent in the Stockholm-based airline, didn’t take part in the sale.