Air France-KLM strengthens its alliances through Delta, Virgin deals

HOLLAND - Air France-KLM strengthens its alliances through Delta, Virgin deals Business July 28, 2017 Air France.com via Wikimedia Commons Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network.

All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry.

In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations ‘There are a lot of cross-participations in the industry. It’s important that Air France-KLM takes part and secures its position as a leading player on the global stage,’ said KLM CEO Pieter Elbers. Virgin Atlantic has a strong position in the lucrative trans-Atlantic market from London.

‘KLM has a relatively weak position in London. But through Virgin Atlantic, we can now offer flights from London to New York,’ Elbers said.

Buoyant second-quarter Higher ticket prices combined with growth in passenger numbers helped push Air France-KLM’s second-quarter operating profit to €496m, this is €179m more than in in the year-earlier period. The company booked turnover of €6.6bn in the period. KLM made the largest contribution to the earnings growth: its second-quarter turnover was 9.4% higher at €2.7bn. The Dutch flag carrier booked operating profit of €301m in the period, compared to only €61m for Air France.

Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network. All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry. In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations

Read more at DutchNews.nl: Air France-KLM strengthens its alliances through Delta, Virgin deals http://www.dutchnews.nl/news/archives/2017/07/air-france-klm-strengthens-its-alliances-through-delta-virgin-deals/

Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network. All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry. In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations

Read more at DutchNews.nl: Air France-KLM strengthens its alliances through Delta, Virgin deals http://www.dutchnews.nl/news/archives/2017/07/air-france-klm-strengthens-its-alliances-through-delta-virgin-deals/
Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network. All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry. In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations

Read more at DutchNews.nl: Air France-KLM strengthens its alliances through Delta, Virgin deals http://www.dutchnews.nl/news/archives/2017/07/air-france-klm-strengthens-its-alliances-through-delta-virgin-deals/

Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network. All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry. In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations ‘There are a lot of cross-participations in the industry. It’s important that Air France-KLM takes part and secures its position as a leading player on the global stage,’ said KLM CEO Pieter Elbers. Virgin Atlantic has a strong position in the lucrative trans-Atlantic market from London.

Read more at DutchNews.nl: Air France-KLM strengthens its alliances through Delta, Virgin deals http://www.dutchnews.nl/news/archives/2017/07/air-france-klm-strengthens-its-alliances-through-delta-virgin-deals/
Air France-KLM has formed new joint ventures with Delta and Virgin Atlantic and is strengthening its ties to China Eastern in moves seen as a bid to cement its position as the European leg in a global network. All are members of the SkyTeam airline alliance. Under terms of the deals, both Delta and China Eastern will buy 10% stakes in the Franco-Dutch combine for a total of €751mn in newly issued shares, the Financieele Dagblad said on Friday. Air France-KLM is also taking a 31% stake in Virgin Atlantic for about €256m. The transactions are part of the long-awaited consolidation in the global aviation industry. In recent years, the fast-growing air carriers around the Persian golf have been building up significant stakes in airlines they work with. Cross-participations ‘There are a lot of cross-participations in the industry. It’s important that Air France-KLM takes part and secures its position as a leading player on the global stage,’ said KLM CEO Pieter Elbers. Virgin Atlantic has a strong position in the lucrative trans-Atlantic market from London.

Read more at DutchNews.nl: Air France-KLM strengthens its alliances through Delta, Virgin deals http://www.dutchnews.nl/news/archives/2017/07/air-france-klm-strengthens-its-alliances-through-delta-virgin-deals/

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