SPLITTING the French and Dutch arms of Air France-KLM wouldn't benefit either side in the Covid crisis, said chief financial officer Frederic Gagey, dismissing talk of a of a breakup in an interview with Bloomberg TV.
'The cooperation, in spite of what you read here and there, is extremely deep,' Mr Gagey said. 'The two teams work together on a daily basis in excellent.
Mr Gagey was responding to comments from French Transport Minister Jean-Baptiste Djebbari, who said the airline's future as a combined company will be tested by talks on injecting needed equity.
The discussions between top shareholders France and the Netherlands will raise fundamental questions about the way Air France-KLM is structured, said Mr Djebbari.
The company's shareholding structure is complex, giving the Dutch side some independence, and a bitter spat erupted between the nations when the Netherlands stealthily amassed a stake to match that of the French government. While there can always be improvement in the way Air France and KLM work together, they cooperate daily, Mr Gagey said.
Air France-KLM warned of a worsening outlook for the company and the industry amid a resurgence of the pandemic in Europe. That's built pressure on both governments to find agreement on a recapitalisation.
'One day or another we'll have to solve the question of the equity of the group,' Gagey said. 'We're working on it, but it's an ultimately a discussion and a decision of the main shareholders.'
SeaNews Turkey
'The cooperation, in spite of what you read here and there, is extremely deep,' Mr Gagey said. 'The two teams work together on a daily basis in excellent.
Mr Gagey was responding to comments from French Transport Minister Jean-Baptiste Djebbari, who said the airline's future as a combined company will be tested by talks on injecting needed equity.
The discussions between top shareholders France and the Netherlands will raise fundamental questions about the way Air France-KLM is structured, said Mr Djebbari.
The company's shareholding structure is complex, giving the Dutch side some independence, and a bitter spat erupted between the nations when the Netherlands stealthily amassed a stake to match that of the French government. While there can always be improvement in the way Air France and KLM work together, they cooperate daily, Mr Gagey said.
Air France-KLM warned of a worsening outlook for the company and the industry amid a resurgence of the pandemic in Europe. That's built pressure on both governments to find agreement on a recapitalisation.
'One day or another we'll have to solve the question of the equity of the group,' Gagey said. 'We're working on it, but it's an ultimately a discussion and a decision of the main shareholders.'
SeaNews Turkey