Accor searches for European partners for Air France-KLM stake

Accor is pressing ahead with plans to buy a stake in France-KLM, approaching European investors to ask them to team up with the French hotelier, said people familiar with the situation. The search for regional partners is in part to address any concerns that Accor could breach EU aviation regulations, which demand that European airlines must have at least 50% of their capital owned by European investors in order to secure their right to fly. At least a quarter of Accor’s capital is owned by non-European investors, which could prove to be an issue in buying a stake in the French airline, said one person with knowledge of the situation. European investors could ease any concerns about the extent of overseas ownership of the stake. <br/>