Air France Takes Control of KLM in Merger

[PfcHammer]

http://news.yahoo.com/news?tmpl=story&u=/ap/20040504/ap_on_bi_ge/france_air_france_klm_5

Air France Takes Control of KLM in Merger

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By LAURENCE FROST, AP Business Writer

PARIS - Air France has acquired control of KLM Royal Dutch, the two carriers announced Tuesday, cementing their agreed merger that would create the world's largest airline company.

In a joint statement, the French and Dutch airlines said they had cleared the last hurdle in the merger they agreed to last year to create Air France-KLM.

KLM shareholders tendered almost 42 million shares representing 89.2 percent of the airline's capital in a share swap offer that closed Monday evening, the statement said.

Under the terms of the offer, Air France is to issue nearly 46 million new shares to the KLM shareholders who have agreed to exchange their stock — reducing the French government's stake in the national carrier to under 45 percent from around 54 percent.

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[Kellanved]

1. The European Airlines are reorganizing

The former flag carriers are being dropped / no longer subsidised.
The big ones, i.e. Air France, Lufthansa maybe BA will survive - the others: who knows?


Swissair is already gone, as is Sabena. SAS will be split up, Alitalia is about to fall.
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1083180267814

[Parche]

2. France

That could lead to trouble for all of the right wing Republicans
as KLM and NW airlines are Partners and both own parts of each
other's airline.
Seeing that they dont like the French!!! WE WE

[Rochambeau]

3. Funny Parche !!

You're talking about airlines in your 747(th)post !

Ok...I'm out... :silly: :silly: :hangover: