© Khunaspix Dreamstime.

The French state is aiming to boost its control over Air France-KLM. It is increasing its 15.88% share by 1.7%, to ensure it wins a shareholder vote next week to give double voting rights to those who have held stocks in the company for more than two years. The state recently made a similar move with Renault, buying additional shares in the company, and is expected to do the same with Orange. It could leave the government with something of a conflict of interests. The move follows speculation that France’s recent grant of additional traffic rights to Qatar Airways was connected to Qatar’s recent order for 24 French-made fighter jets in a €6.3bn deal. French president Francois Hollande said the deals were separate, but it is bad timing, given the current antipathy of European airlines to allow Gulf carriers additional traffic rights.

Comment on this article

You must be logged in to post a comment.