AIR FRANCE-KLM PLANS A RAPID RECAPITALIZATION WITH ALL ITS REFERENCE SHAREHOLDERS, ACCORDING TO ECHOES
PARIS (Reuters) – The Dutch state, Delta Air Lines and China Eastern are expected to participate in the next recapitalization planned by Air France-KLM “in the coming months”, and to which the French state has already provided its support, reports on Sunday The echoes.
The group announced Thursday plans to raise up to four billion euros to repay the aid paid by France and the Netherlands to cope with the impact of the COVID-19 pandemic.
The objective, according to the economic daily, is to combine “a capital increase and an issue of perpetual convertible bonds, considered as quasi-equity.”
“To this should be added asset disposals, ‘for an amount of up to 500 million euros’. The only certainty at this stage: it will not be planes”, is it specified on the site echoes.
In addition to the French State, which holds nearly 29% of the capital, the “other reference shareholders – the Dutch State, Delta Air Lines and China Eastern – (…) should participate in this second recapitalization.”
Air France-KLM would be ready to act quickly “as soon as the air transport stock market prices rebound, as was the case in April 2021, after the announcement of a next vaccine” against COVID-19, continues the daily. .
“Air France-KLM has already obtained the agreement of its shareholders to carry out this capital increase within the – very broad – limit of 300% of the current capital.”
The French Minister of Economy and Finance, Bruno Le Maire, assured Friday on RTL that the State would stand alongside the airline group in the event of recapitalization.
The Dutch state holds less than 10% of Air France-KLM, Delta Air Lines’ share amounts to around 6% and that of China Eastern to 10%.
(Written by Sophie Louet)