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