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SAS launches $125m takeover of rival Braathens

SAS, the Scandinavian airline, on Monday launched a NKr1.13bn ($125m) takeover of struggling rival Braathens, which would effectively create a monopoly in the Norwegian domestic air travel market. SAS has agreed to buy out the airline’s two biggest shareholders – the Braathens family, which holds 38.8 per cent, and Dutch airline KLM, which has a 30 per cent stake.

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CargoSmart portal stakes up for grabs

Hong Kong-based Orient Overseas Container Line (OOCL) wants to sell stakes in its CargoSmart Internet portal, and last week announced that it is in discussions with five Asian carriers.
Ken Chih, OOCL’s chief information officer, said: “We’ve just signed a three-year deal with Hewlett Packard (HP) for it to host CargoSmart. We recognised that if a neutral
party didn’t host it, we wouldn’t get other carriers using it.”
OOCL has set a 30 June deadline for the carriers to decide whether they want to take up to a 20% of the portal.

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