Where have you been?
Air France-KLM (Euronext Paris: AF
: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris. It is the largest airline company in the world in terms of total operating revenues, and the third largest in the world (the largest in Europe) in terms of passenger-kilometers. Air France-KLM was created by the mutually-agreed merger between Air France and Netherlands-based KLM on May 5, 2004. Its CEO is Jean-Cyril Spinetta, the former CEO of Air France.
Private shareholders own 81.4 percent of the company (37 percent owned by former Air France shareholders and 21 percent owned by former KLM shareholders), while the French government owns the remaining 18.6 percent. As a result of the deal, the French government's share of Air France had been reduced from 54.4 percent (of the former Air France) to 44 percent (of the current Air France-KLM). Its share was subsequently reduced again to 25 percent, and later to 18.6 percent. The merger has thus resulted, in effect, to the privatisation of Air France.
Both Air France and KLM continue to operate flights under their distinct brand names as subsidiaries of Air France-KLM. This situation may be subject to change in the future.
When all's said and done, there'll be more said than done.