3/1/2019, 11:07 AM (Source: TeleTrader)
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France, Netherlands to adopt joint Air France-KLM strategy

The governments in Paris and Amsterdam are moving towards adopting a joint strategy for Air France-KLM, the two countries' finance ministers, Bruno Le Maire and Wopke Hoekstra, stated after a meeting in the French capital. Proposals for the joint strategy are due to be made by the end of June, Le Maire pointed out. "We want to build a better company, and we want to make sure the interests of both countries are taken into account," Hoekstra told reporters after meeting with his French counterpart.

The news comes after the Netherlands decided to double its stake in Air France-KLM, from 5.9% to 12.68%, claiming the move aims to save thousands of jobs in the company. Additionally, Amsterdam further increased its stake to 14% on Wednesday. The decision was met with harsh criticism in France, whose government owns 14.3% of the airline. Le Maire pointed out that Amsterdam was unreasonable to increase its stake in the Air France-KLM, but vowed to negotiate with Hoekstra "try and find a way out of this."

Breaking the News / SS