SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

French Government To End Majority Control Of AF

Tue Jul 30, 2002 6:26 am

La France announced that it would relinquish majority control of Groupe Air France S.A.

La France will, "reduce its capital interest while remaining one of the company's main shareholders, when market conditions permit," the Finance Ministry announced.

The plan is to reduce the government's stake from the present 54.4% to possibly under 20%.

An announcement by Prime Minister Jean-Pierre Raffarin (the centre-right not as good as the left but better than the Pen) on July 3 2002 confirmed that France would privatise companies on a "case by case basis".

"In order to allow the company to speed up the modernization of its fleet, consolidate its alliances and seal new partnerships, the state must give it more room to grow," said the Finance Ministry.

Air France posted the best FY results for €urope of €235 000 000 / US$231 780 500. Analyst Aurel Leven wrote "In comparison with its European counterparts, Air France published a much better performance and is classed the third most profitable airline in the world after Singapore Airlines"

Full information at the AFP / Yahoo website

Information gathered form the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink. Currency conversion from €uros to US Dollars courtesy of the Singapore Airlines Currency Converter
Anyone can fly, only the best Soar.
 
DeltaSFO
Posts: 2407
Joined: Fri Nov 03, 2000 11:22 am

RE: French Government To End Majority Control Of AF

Tue Jul 30, 2002 6:39 am

Interesting article. Perhaps more interesting will be to see if any airline, perhaps DAL, steps in and picks up a stake in AF.

An announcement by Prime Minister Jean-Pierre Raffarin (the centre-right not as good as the left but better than the Pen) on July 3 2002 confirmed that France would privatise companies on a "case by case basis".

I should note that it's very bad form to interject your personal opinion into a news story that you're pasting in from a website. Doing so confuses people and compromises the journalistic integrity of the story itself. If you want to add your opinion, it would be more proper to do so at the bottom.

At any rate, it's good to see AF profitable and on the road to privatization.
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SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: French Government To End Majority Control Of AF

Tue Jul 30, 2002 6:46 am

"I should note that it's very bad form to interject your personal opinion into a news story that you're pasting in from a website."

True, apologies. Should've made it clearer.

The above post by me dated 2002-07-29 23:26:26 has an error. The fourth paragraph should read:

----
An announcement by Prime Minister Jean-Pierre Raffarin on July 3 2002 confirmed that France would privatise companies on a "case by case basis".
----
Anyone can fly, only the best Soar.

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