Today KLM and Air France had announced thath they will start working together. The news message was very short and they didnt gave any more information about what this coorperation means. The Air france website also doesnt give any more information, but KLM says the following:
AIR FRANCE AND KLM ROYAL DUTCH AIRLINES TO CREATE EUROPE’S LEADING AIRLINE GROUP
PARIS, France and AMSTELVEEN, The Netherlands – September 30, 2003 – Air France (EURONEXT: AIRF.PA) and KLM Royal Dutch Airlines (EURONEXT: KLM; NYSE: KLM).
Air France and KLM today announce that they expect to conclude an agreement that would lead to the creation of Europe’s leading airline group through a share exchange offer by Air France for KLM common shares. The new group will be called Air France-KLM and will capitalize on two well-known brands, strong hubs and complementary networks. This major strategic step is unprecedented in the European airline industry and is expected to create substantial value for shareholders. The Boards of both companies believe that this proposed combination is in the best interest of customers, shareholders and employees of both groups and represents a significant opportunity for further growth.
If you want more information, have a look atthis .
This seems very good to me for the airlines’ business.
Jens
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September 30, 2003 at 6:23 pm