Air France-KLM completes its capital increase

The airline group Air France-KLM announced on Tuesday that it had completed its capital increase of 2,256 billion euros, its two largest shareholders, the French and Dutch States, having participated to the extent of their participations while the shipowner CMA CGM enters the capital.

Air France-KLM completes its capital increase

The airline group Air France-KLM announced on Tuesday that it had completed its capital increase of 2,256 billion euros, its two largest shareholders, the French and Dutch States, having participated to the extent of their participations while the shipowner CMA CGM enters the capital.

This is the second stage of the measures taken to clean up the group's finances, after a first recapitalization in April 2021.

The French and Dutch States therefore remain shareholders with 28.6% and 9.3% of the shares respectively, while CMA CGM, a global shipping giant which made a record profit last year, becomes the group's third largest shareholder, with 9%.

The proceeds of the issue will be allocated mainly "to the accelerated repayment of state aid" as well as "to reduce the net debt of Air France-KLM", explained the group.

Launched on May 24, the capital increase should help get out of the COVID-19 crisis, which has caused Air France-KLM to lose some 11 billion euros since 2020.

The group specifies that the total request had amounted to 2.6 billion euros.

"The success of our capital increase is a strong demonstration of the confidence of our existing shareholders and new investors in the prospects of Air France-KLM", declared Benjamin Smith, the group's chief executive.

The other two main shareholders, the Chinese companies China Eastern and the American Delta Air Lines, reduced their stake to 4.7% and 2.9% respectively.

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