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2/28/2019, 12:19 PM (Source: TeleTrader)
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France condemns Dutch purchase of Air France-KLM stake

French Economy Minister Bruno Le Maire (pictured) slammed The Netherlands' acquisition of a stake in Air-France KLM and said that it "benefits nobody," AFP reported on Thursday.

In an interview with French television channel Public Senat, Le Maire stated that it was unreasonable "to remain in this situation, which benefits nobody - not Air France, not KLM and not the airline as a whole." He also confirmed that he will hold talks with The Netherlands' Minister of Finance Wopke Hoekstra in Paris on Friday to "try and find a way out of this" and that he expected his Dutch counterpart to provide "explanations." However, he stressed that the alliance of the French and Dutch flag carriers remained "solid."

Hoekstra announced on Tuesday that The Netherlands would more than double its stake in Air France–KLM to 14%, a fraction less than the French state's 14.3% shareholding. The airline alliance's shares subsequently fell by more than 11% following the news.

Breaking the News / DZ