Air France KLM

Ticker AF

Today's data summary

Market closed
% change
-0.24%
Price Euros
10.21
Change
-0.03
As of 08:37 19 Oct 2019
Market cap. Euros
4,376.35 million
As of 08:37 19 Oct 2019

Latest updates

Airbus order

logo
Getty Images

Air France is buying 60 Airbus A220-300 aircraft, with an additional 30 purchase options and 30 acquisition rights.

The first aircraft should be delivered in September 2021.

"These decisions support the Air France-KLM Group's fleet competitiveness strategy," said Benjamin Smith, chief executive, of Air France KLM.

Rise in passenger numbers for Air France KLM

Air France and KLM planes
AFP

Air France KLM has reported a rise in its March passenger numbers compared with the previous year.

The airline said it carried 8.3 million passengers in March, up 3.4% from a year earlier.

However, Air France KLM's March passenger load factor dropped by 0.3 percentage points to 87.6%.

Air France KLM row continues

Air France and KLM aeroplanes
AFP

France is still upset with the Dutch government, which decided to suddenly buy a 14% stake in AirFrance-KLM on Tuesday.

The Netherlands government said it chose to buy the stake in order to "protect Dutch interests".

The Dutch now own a 14% stake in AirFrance-KLM, while France owns a 14.3% stake, which makes them almost equal.

"Between two states, which are friendly and close founding members of the European Union, such behaviour is unacceptable," French finance minister Bruno Le Maire told Public Senat television. "It's not reasonable to remain in this situation, which benefits nobody."

There had been concerns in early February that KLM boss Pieter Elbers would not be reappointed as chief executive of the Franco-Dutch airline holding company's division in the Netherlands.

In response, the Dutch government gave him its official backing, and KLM staff threatened to go on strike.

Netherlands is building stake in Air France-KLM-reports

The Air France-KLM group's new logo is pictured during the group's 2018 financial year presentation in Paris on February 20, 2019.
Getty Images

The Dutch government has acquired a stake a 12.7% stake in the Air France-KLM holding group and aims to raise that to equal France's 14.3%, according to media reports.

The Netherland's move is aimed at increasing its influence in the carrier and protecting the country's economic interests, reports said.

Staff demand Pieter Elbers be reappointed to KLM

Pieter Elbers
IP3 / Getty Images

Dutch airline managers have warned that there will be strikes if KLM boss Pieter Elbers is not reappointed chief executive of the airline.

KLM's owner Air-France KLM is currently headed by Canadian chief executive Ben Smith, who was appointed only in September.

Mr Elbers heads the Franco-Dutch airline holding company's division in the Netherlands, and he has been given official backing from the Dutch government, AFP reports.