The Dutch government has acquired shares in the aviation alliance Air France-KLM, thereby angering the French government. The Dutch Finance Minister Wopke Hoekstra announced yesterday surprisingly that the government had bought shares worth 680 million euros.
Thus, the Dutch state holds 12.68 percent of the capital of the alliance between the French airline Air France and the Dutch airline KLM. The goal is to get a share like the French state, Hoekstra said at a brief press conference in The Hague. Currently, 14.3% of Air France-KLM shares are held by the French state.
France not pleased
As a justification, the minister said his government wanted to be able to „directly influence the future development of Air France-KLM“. Major decisions on KLM’s strategy are now increasingly being taken at Air France-KLM level.
French Economy Minister Bruno Le Maire was surprised. Neither the board of directors of Allianz nor the French government were informed about the move, said the minister of the French business paper Les Echos. He warned that the principles of good corporate governance must be respected; there should be no „state interference“.
Quarrels at the top
Air France and KLM entered into an alliance in 2004. However, both airlines are still managed separately in many areas. Recently there had been tensions over KLM boss Pieter Elbers. The Dutch government intervened when there were doubts that he would stay in his post. According to media reports, his role in the alliance is considered „difficult.“ The head of Air France-KLM, the Canadian Ben Smith, wants to bring the two airlines closer together. Elbers is considered an obstacle.
In recent years, fierce industrial disputes at Air France have repeatedly caused turbulence – and in the Netherlands worried about the alliance.
