AIR FRANCE and KLM equity held by the French State is now down to 20% following a share sale as planned. This reduction in the government holding is in line with the arrangements agreed between the French and Dutch under the agreement to merge Air France and KLM. As agreed with the unions, present and former employees of Air France and its subsidiaries will be entitled to purchase Air France ” KLM shares at a discount under a rights issue in return for a wage cut. A statement from AF makes it clear that the French government plans to remain a major shareholder of the Air France ” KLM Group.
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