Air France-KLM shareholders back Delta, China Eastern minority stakes

Air France-KLM shareholders Monday backed Delta Air Lines and China Eastern Airlines taking minority stakes in the Franco-Dutch airline. Delta in July said it planned to acquire a 10% stake in Air France for E375m, valued at the time at about US$437m, as the long-time partners aim to strengthen their position on the lucrative trans-Atlantic market. China Eastern, a Delta partner in China, also would buy 10% of Air France. The two carriers will spend a total of E751m to acquire the stakes in Air France. A large majority of Air France-KLM voting shareholders backed issuing the new shares to Delta and China Eastern at a general meeting in Paris Air France-KLM CE Jean-Marc Janaillac told shareholders the deal would strengthen the carriers’ control over trans-Atlantic flights. <br/>