The Danish state has established itself as the all-dominating owner of Copenhagen Airport for 32 billion kroner.
On Monday, the government announced that it, together with SF, Konservative and Radikale Venstre, has entered into an agreement to buy almost 60 percent of the shares in Copenhagen Airports.
This will mean that the state will end up owning approximately 98 percent of the company.
Formally, it is the Ministry of Finance that has entered into a purchase agreement with the pension company ATP to buy 59.4 percent of the shares.
Important to Copenhagen and Denmark
Since the state already had almost 39 percent of the shares, sole ownership will soon become a reality.
“We have been given the opportunity to acquire several shares in Copenhagen Airport. We have had a desire to have a strengthened state role there. There is no doubt that Copenhagen Airport is of enormous importance both to the people of Copenhagen and to all of Denmark,” says Finance Minister Nicolai Wammen.
The purchase agreement includes an “arm’s length principle,” where the state as owner promises not to interfere in the daily operation of the airport.
“I will not sit here as Finance Minister and try to act like an airport director,” says Nicolai Wammen.
Must work to reduce ownership
According to a press release, the state must “work to reduce the state’s ownership share to 50.1 percent over time.”
This can be done through one or more divestments. It is part of the political agreement.
Konservative are not part of this, as the party does not believe that the state should necessarily have a majority share in the company.
Dansk Industi believes that the state is sending an “important signal” by taking “co-responsibility for such a vital part of our common infrastructure.”
“The aviation industry is extremely competitive and directly affects the country’s economic development and international relations,” says Lars Sandahl Sørensen, CEO of Dansk Industri.
In 2023, Copenhagen Airports had a turnover of DKK 4.1 billion and a pre-tax profit of DKK 398 million.
Crucial step for Scandinavian connectivity
SAS is also pleased about the state ownership of a hub for the Scandinavian airline.
“This is a crucial step for Danish and Scandinavian connectivity. Strengthening Copenhagen Airport as a global hub requires close collaboration between all stakeholders, and we warmly welcome the Danish State’s decision as it will facilitate the necessary alignment for stronger Scandinavian connectivity,” says SAS President & CEO Anko van der Werff.
