Aviation group Air France-KLM is going to issue more shares and wants to raise almost 2.3 billion euros in this way. The company wants to use the money to, among other things, pay back the corona support faster and strengthen its balance sheet. The Dutch State plans to buy additional shares so that its interest remains the same, Air France-KLM reports in a statement press statement† That would cost about 220 million euros, according to Minister Sigrid Kaag (Finance).
The Netherlands currently has a 9.3 percent interest in Air France-KLM and almost 14 percent of the so-called voting rights. If the State does not buy additional shares in such a share issue, that interest is diluted. That leads to less control.
According to Air France-KLM, the government has announced that it wants to maintain the interest, although this still requires approval from parliament. Minister Kaag reports in a letter to parliament that it is expected to cost 220 million euros.
In total, Air France-KLM wants to issue more than 1.9 million new shares. Of the proceeds, 1.7 billion euros will be used to repay corona support.
The French government, the largest shareholder of Air France-KLM with a stake of 28.6 percent, is also participating and will thus maintain its interest.
It was recently announced that Air France-KLM has signed a major air freight deal with the French container carrier CMA CGM. The latter company will buy in for 400 million euros during the issue and had already announced that it would take a maximum stake of 9 percent in Air France-KLM. Partners China Eastern Airlines and Delta Air Lines are also participating.