Air France, Accorhotels, accor, buy, stake, sale, swap, government

AccorHotels may buy into Air France-KLM

There are several ways a deal between Accor and the French government could work.

The French hotel giant AccorHotels confirms it has expressed an interest in buying a minority stake in Air France-KLM, which could evolve into a major transformation for the airline group.

Accor is looking at buying some or all of the French government’s 14.3% stake, a move that follows the resignation last month of Air France-KLM CEO Jean-Marc Janaillac after losing an employee vote over a new pay proposal.

AccorHotels is studying the stake so as to better compete with travel packages offered by online rivals such as Expedia and Booking.com, Reuters reports.

A sale could also help the airline push through painful and politically difficult reforms.

It is not the first time AccorHotels, which has more than 4,000 hotels in brands from the budget Ibis up to the luxury Sofitel, has held talks with Air France KLM on joint projects.

“AccorHotels confirms having resumed its reflections on the matter, being at a very early stage of assessing the feasibility and potential terms and conditions which will be discussed with Air France KLM in due time,” AccorHotels said.

“There is no certainty that these initiatives will lead to any agreement nor any form of implementation”.

Share swap?
The newspaper Les Echos reported on Sunday that the French government was considering selling its stake and had received interest from AccorHotels.

The government is studying three options, the article said – to sell the whole stake to AccorHotels; a partial sale where it would retain some influence; or swap the shares for a stake in AccorHotels.

Related stories

Air France may “disappear” as strikes intensify

Air France staff urged to stop new strike

Why AccorHotels snapped up Mövenpick

x

Check Also

Widerøe, air france, codeshare, travel, tourism, Norway, KLM, ticket, flights, connections, Scandinavia, Oslo, Bergen

Widerøe in deal with Air France as well as KLM

Several months after it signed a codeshare agreement with KLM, Widerøe approves one with Air France.

Montpellier-Méditerranée Airport, european commission, investigation, ryanair

EU to investigate Ryanair airport deal

The European Commission has “concluded on a preliminary basis” that the deal involved illegal state aid.

Air France, KLM, management, ceo, cfo, search, successor, open letter

Troubled search for a new Air France-KLM chief

There has been a backlash since rumours that the CFO of a water and waste management company was about to be nominated.

European Union, EU, transport commissioner, Bulc, O'Leary, Walsh, ATC, striles, Europe, EU, France, Spain, complain, meeting

Rival airline bosses demand action over ATC strikes

The bosses of Ryanair and IAG march to Brussels to demand action to stop growing wave of air traffic control walkouts.

ATC, air traffic control, France, strikes, Ryanair, warning, government, report, equipment, delays, flight, airlines, cost, Europe

French ATC causes third of delays in Europe

A new report says that air traffic control strikes and old equipment cost airlines €300 million each year.

KLM, Boston Consulting Group, AI, artificial intelligence, robots, operations, airline, business, data, future, technology

KLM uses AI for airline operations

The Dutch airline looks at improving operations and boosting growth by using artificial intelligence.