The French and Dutch governments will issue joint strategy recommendations for A...
PARIS - The French and Dutch governments will issue joint strategy recommendations for Air France-KLM, their finance ministers said on Friday, as they sought to defuse a row over a surprise purchase of a stake in the airline group by the Dutch.
The Dutch government quietly amassed a 14 percent stake in the company in a move announced late on Feb. 26, triggering an immediate diplomatic spat with France, Air France-KLM’s biggest shareholder with a 14.3 percent holding. “We want to build a better company, and we want to make sure the interests of both countries are taken into account,” Hoekstra said.Dutch ministers ordered the stealth acquisition after Smith appeared unreceptive to their concerns about his plan for closer integration between the Air France and KLM operations, and its potential impact on Amsterdam’s Schiphol airport.
Smith appeared last month to have resolved a standoff with KLM boss Pieter Elbers, announcing that decisions on networks, fleets and commercial strategy would be taken at group level to improve competitiveness against better-integrated rivals such as IAG, parent of British Airways and Iberia.
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