Air France KLM sells half its Amadeus shares

Shareholding sold for €467 million as part of extreme cost-cutting

Air France KLM Group has made €467 million by selling off around half of its 15.22% shareholding in Amadeus IT Holding. The sale is seen as part of an overall effort to restore profitability in the Franco-Dutch group, which launched a three-year “transformation plan” in January by slashing costs by €1 billion and quickly cutting debt by €2 billion to €4.5 billion by the end of 2014.
The airline group is expected to post an operating loss of around €240 million and a net loss of up to €650 million in financial results for its shortened nine-month financial year 2011. The results are due out on March 8. IAG, by contrast, posted a €555 million net profit for 2011 this week.
ATW
[pictured: CFM-56 engine on Airbus A321; courtesy Air France]

x

Check Also

KLM, Wideroe, codeshare, SAS, Norway

KLM ups pressure on SAS in Norway

A new agreement with Widerøe means more KLM flights will be offered to Amsterdam from regional airports in Norway.

Air France, cancel, delay, strike, February, pay, grounded, flights, Paris, Toulouse, Lyon

Air France strike hits Paris flights

Travellers are advised to postpone their flights until February 27 as chaos strikes airports.

Aviator, ground handline, Wideroe, lose, customer, Air France-KLM, Norway, airports, security, baggage

Airport handler Aviator loses major airline

The pan-Nordic airport handling provider loses a contract with an important customer to a competitor.

Iberia, London, Madrid, flight, Nicaragua, Managua, new, route, Central America, beach, adventure, trekking, surfing, Granada, tourism, travel

Iberia confirms new route to Nicaragua

Nicaragua is becoming a popular adventure and cultural tourist destination.

Gunnar Garfors, Norwegian, record, fly, round the world, airlines, flights, Sydney, Emirates, Iberia, Copa, Qantas, Dutch

Norwegian man sets round-the-world record

Passenger sets new Guinness World Record for travelling the world on scheduled flights.

KLM, Air France, Sweden, market, sales, manager, Växjö, Martin Kotte

New AF-KLM sales manager for Sweden

A new sales manager wants to improve the group’s partnership with agents and companies.