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Air France-KLM merger completed
Air France has completed a merger with KLM to create the largest airline in Europe.
The $1 billion deal will see the combined carrier operate a fleet of 550 aircraft.
The marriage of the two airlines means that the French carrier has effectively been privatised as the French government’s stake has been cut to under 50%.
Air France’s all-share takover of ts Dutch counterpart will trigger plans to optimise route networks, combine frequent flyer programmes and pave the way for KLM to join the SkyTeam alliance led by Delta Airlines and the French airline.
A joint statement said: “The two airlines are now ready to start their co-operation, to implement the previously announced synergies and expand their businesses together.”
Air France chief Jean-Cyril Spinetta becomes chairman and chief executive of the expanded airline group.
Report by Phil Davies
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