Recently, KLM Airline national carrier for Dutch Government bought a 14% stake in Air France with aims to match France’s 14.3% share. The French government shares in the airline declined by 11% after government of Netherlands said it was protecting Dutch interests.
However, Bruno Le Maire, French Finance Minister claimed that the company should be managed without national public interference. Dutch acquisition agenda started with initial purchase of 12.7% of Air France – KLM shares.
French reports, claim government in Paris was informed on short notice about Dutch move an hour before a press conference and after the shares had already been bought off.
The French Finance ministry insists that Dutch move was surprising and unfriendly as the Netherlands behaved more in the manner of market traders than a state shareholder.
However, French President Emmanuel Macron said the Dutch Government should clarify its intentions towards Air France.
Dutch Nationals claim, buying the 14.3% stake ensures they have a seat at the table.
Wopke Hoekstra, Dutch Finance Minister comments that the initial move which cost about €680m (£583m; $774m). By the end of Wednesday it had spent €774m.
He adds that, the justification was aimed at protecting Dutch economic interests and jobs particularly regarding Amsterdam’s Schiphol airport which is Europe’s third busiest airport after Heathrow in London and Charles de Gaulle in Paris.
KLM Royal Dutch Airlines is said to be more profitable than its French counterpart and has more public credibility due to its reputation as the national carrier of Netherlands and regularly, King Willem Alexander from the monarch of the Netherlands sometimes serves as a co-pilot on the company’s planes in order to maintain his pilot licence.
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