Skyteam members Air France, Delta Air Lines and China Eastern Airlines have completed a series of share transactions aimed at strengthening their strategic partnership.
Under the agreement, which was originally announced on July 27, China Eastern and Atlanta-based Delta are each taking a 10% stake in Air France-KLM, which will in turn acquire 31% of UK-based long-haul carrier Virgin Atlantic.
“Each of China Eastern Airlines and Delta Airlines now holds 10% of Air France-KLM’s share capital and has consequently one director representing it at Air France-KLM’s board of directors,” Air France said in a statement.
Over 75 million new Air France-KLM shares have been admitted to the Euronext Paris and Amsterdam stock exchanges, injecting €751 million ($893 million) into Air France-KLM.
“This operation is an integral part of the Trust Together project, allowing Air France-KLM to regain the offensive, to reinforce its commercial integration with its principal partners and to continue improving its financial structure,” Air France-KLM said.
Victoria Moores victoria.moores@penton.com
