LYCOS RETRIEVER 
Air France: Air France-Klm
built 628 days ago
In a recent opening for a majority takeover of the loss-generating Alitalia, Air France-KLM was one of three bidders, and is favoured by the board of Alitalia.[5]. Alitalia is a flag carrier with majority stakes owned by the Italian Ministry of the Treasury (49 percent) and other shareholders, including employees (49 percent). It is unclear whether the Italian government is willing to give control to a non-Italian company.
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"Any consolidation in Europe must improve the profitability of the new group," said Jean-Cyril Spinetta, Air France-KLM chairman and chief executive. "If this is not the case of course we would abandon any idea of consolidation."
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Two notable exceptions are Air France-KLM and El Al. KLM reduced their surcharge by 5 euros each way, while El Al cut theirs by $14 each way. Other airlines have been resistant, and others have even raised their surcharges in the past two weeks, despite the drop in fuel prices.
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Il Sole said the Air France-KLM offer did not specify exactly how it would bid for the other shares in Alitalia not owned by the state. Stock market rules dictate it will have to make a compulsory buyout offer.
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