Danish Government to Acquire Majority Stake in CPH
The Danish government has reached a conditional agreement to acquire a controlling stake in Copenhagen Airport (CPH) for $4.5 billion. The deal involves the Ministry of Finance purchasing an additional 59.4% of Københavns Lufthavne A/S, the company that owns and operates the airport, from the Danish pension fund ATP. If the deal is finalized, it will raise state ownership of the airport to around 98%.
However, the government plans to gradually reduce its stake to 50.1% over time, through one or more divestments. This move is part of a broader strategy to ensure that Copenhagen Airport remains a valuable asset to Denmark while maintaining a balance between state and private sector involvement.
Danish Finance Minister Nicolai Wammen highlighted the significance of Copenhagen Airport as a key infrastructure asset for the country, noting its role in enhancing Denmark’s international connectivity and supporting the economy. He welcomed the agreement, stating that increased state ownership would ensure long-term and responsible management of the airport, benefiting Denmark’s economy, business environment, and workforce.
The agreement has also received a positive response from Scandinavian Airlines (SAS), the largest airline at Copenhagen Airport. SAS emphasized that the government’s increased stake would strengthen Denmark’s infrastructure and improve connectivity. With the Danish government already holding a 25.8% stake in SAS, the new deal is seen as aligning strategic interests between the two entities.
“Strengthening Copenhagen Airport as a global hub requires close collaboration between all stakeholders,” said Anko van der Werff, President and CEO of SAS. “We warmly welcome the Danish State’s decision, as it will facilitate stronger Scandinavian connectivity.”
In September 2024, SAS announced plans to expand its presence at Copenhagen Airport, with 15 new routes scheduled to launch in 2025. These routes include flights to major cities like Seattle and Seoul, further cementing the airport’s role as a global hub.
Copenhagen Airport has already seen a strong recovery in passenger numbers. In the first nine months of 2024, the airport served 22.8 million passengers, marking a 12% increase over the same period in 2023. The busiest months of the year—July, August, and September—saw 8.9 million passengers pass through the airport, reflecting the continued demand for air travel in the region.
The deal between the Danish government and ATP is a significant step in securing Copenhagen Airport’s future as a major international hub, with the government playing a central role in its ongoing development and strategic direction.
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