France and the Netherlands are currently discussing whether Air France-KLM should issue new shares at any time. The French Secretary of State for transport, Jean-Baptiste Djebbari, said that this could also lead to ‘technical nationalisation’. According to him, the airline group as it stands still has enough money to survive until the demand for air travel is expected to pick up again.
Should that moment be delayed, Air France-KLM could need more money in the coming months, and this could be done by buying up new shares. This would involve the risk of the airline group becoming state-owned.
“If you buy a large amount of shares from a low-value company, you can quickly get to the point where you control that company,” explains Djebbari.
Before it comes to that, the Netherlands and France, both of which have an interest of about 14% in the air transport company, and Air France-KLM itself must be made clear what the objective is. Further integration of Air France and KLM is on the agenda, according to Djebbari.
Air France and KLM already received state aid of around EUR 10 billion from the French and Dutch authorities. As a result of the coronacrisis and the loss of flights, the airlines were in a difficult financial situation.