French government to double Air France-KLM stake as part of a recapitalization

WORLD – European Commission regulators have approved a €4 billion (US$4.7 billion) recapitalisation of Air France that could see the French government more than double its shareholding in Air France-KLM.  The French government’s stake in the group will increase from 14.3% to a maximum of 30% as part of the arrangement, Air France-KLM said. The too Dutch government has confirmed that its holding will be diluted to 9.3% from 14%. Dutch flag-carrier KLM supports the recapitalisation measure, the group stated but will not benefit from the €4 billion aid, according to the…

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Kenya Airways, Air France KLM terminate Africa Europe joint venture cooperation

KENYA – National carrier Kenya Airways and Air France KLM Group have announced they have agreed to mutually terminate their Africa-Europe joint venture partnership from 1st September 2021. According to a press release from Kenya Airways, the two airlines had previously suspended the Joint Venture cooperation for the calendar year 2020 mainly due to the COVID-19 pandemic and subsequent unpredictability of return to normalcy in operations. This development allows Kenya Airways to offer additional options and convenience to our customers connecting through our European gateways in line with our goal…

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AirFrance-KLM, Delta, Virgin Atlantic expand partnership to provide more choice for customers

GLOBAL – Air France, KLM, Delta and Virgin Atlantic have unveiled an expanded joint venture aimed at offering a greater choice of routes and loyalty options for customers travelling between Europe, the United Kingdom and North America. Governance of the joint venture will be equally shared between the Air France-KLM Group, Delta and Virgin Atlantic. An executive committee comprising the three CEOs and a management committee of representatives from departments across the businesses will define future strategy. The airlines said in a joint statement that the new partnership would provide…

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Kenya Airways to be delisted from Nairobi Securities Exchange

KENYA – The Treasury has announced plans to buy out Air France-KLM, local banks and more than 80, 000 individual shareholders from Kenya Airways and delist the national carrier from the Nairobi Securities Exchange (NSE), reports Business Daily. Transport Principal Secretary Esther Koimett told Parliament that the buyout plan comes after the House voted in July to nationalise Kenya Airways to save it from mounting debts. The Transport ministry is working with the International Finance Corporation (IFC) to hire a technical expert to conduct a fresh valuation and buying price.…

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