'KLM closely monitored'

'KLM closely monitored'

World May 6, 2018 13:03

the hague - The Ministry of Finance says to keep a close eye on developments at AirFrance / KLM.

'Obviously we follow the developments closely and we are committed to the interests of the entire company', says a spokesman for Minister Wopke Hoekstra (Finance), the minister who manages the state participation. 'It is first necessary to make clear to the management which follow-up steps they want to take. '

The announced resignation of CEO Jean-Marc Janaillac has caused a management crisis at the company. For the time being, there is no prospect of resolving the dispute between the company and the French trade unions. Strikes in France cost the company an asset, as a result of which KLM's positive financial contribution disappears like snow in the sun.

The Netherlands is 5.92 percent owner of KLM, which is not the same as shareholding of parent company AirFrance / KLM. The influence that The Hague has is therefore limited, in contrast to that of Paris. The French state does have shares in the parent company.

Various cabinets have in recent years emphasized warm feelings for KLM, but that the company is a private company that determines its own course.

Behind the scenes one can try to exert influence on the political level via the French government or the management, but there is no real stick to play with. This situation has its origins in agreements that were made when AirFrance and KLM merged in 2003.

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