Sabena Boeing 747s with four-engined Airbus A340. After the liberalisation of the airline industry throughout Europe and the economic consequences of the Gulf War, the Belgian government, the main shareholder of the company, realized that Sabena had little chance of surviving on its own in this very competitive market, and began searching for a suitable partner. Sabena remained in a poor financial state, and year after year the Belgian government had to cover losses, however, it was however prevented from providing new funds due to EU State Aid rules. Around 1987, SAS tried to merge with the carrier, but the merger
Alcazar (airline) Sabena. In addition, they had a strong tie with Northwest Airlines. In 1989, KLM bought 20 percent of the then ailing airline. In 1992, KLM had made a bailout purchase of Northwest, securing a 25 percent ownership of the airline, which is the maximum a foreign airline is allowed to own in a US airline. Swissair cooperated with Delta Air Lines and Singapore Airlines in a triangular cooperation, which was highly valued by the company's management. Delta was significantly larger than the other two US partner airlines, and had a base in New York City, rather than Northwest's hubs in