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Joint press release on the future of the group Air France-KLM

News item | 01-03-2019 | 11:36

Bruno Le Maire, Minister of the Economy and Finance of France, and Wopke
Hoekstra, minister of Finance of the Netherlands, met on 1st March 2019
to discuss the relationship of both governments towards the group Air
France-KLM.

Wopke Hoekstra and Bruno Le Maire share the same priority: strengthening
the group Air France-KLM, a key European actor in European air transport
with a global network of destinations from the hubs of Roissy Charles De
Gaulle and Amsterdam Schiphol. They are determined to continue to
support improving its competitiveness and they will work together to
consolidate the success of the group.

They agreed to launch a process with the objective of transforming and
reinforcing their understanding of the future of the company.

They reaffirmed their support to the CEO, Ben Smith, and the senior
management team of the Air France-KLM group and its employees. They
supported all the decisions taken by the board of directors of 19th
February which modernizes the governance of the Group to ensure it
operates more effectively.

They agreed to establish a working group presided by Martin Vial,
Director general of the French APE (Agence des Participations de
l’Etat) and his counterpart Christiaan Rebergen, Treasurer-General of
the Dutch Ministry of Finance.

This working group will focus on strengthening the cooperation between
France and the Netherlands with the objectives of good governance of the
Air France-KLM group, its continued development, its growth and improved
results of the group. Air France-KLM is a solid company that finds
itself in a challenging environment, being active in an extremely
competitive market.

To this end, they will examine in the spirit of partnership the
following points:

The shareholdings of both States in Air France-KLM and the capital
structure of Air France and KLM

The governance rules and the respect by both governments of rules of
good conduct

The composition of the board of directors

The defense of the interests of the hubs of both Roissy-Charles de
Gaulle and Schipol

Their respective visions on the long term strategy deployed by the
management of the Air France-KLM group.

The agreements of 16th October 2003 between Air France, KLM and the
Dutch State.

The final outcome must be a fair and balanced one for all sides. We are
firmly committed to reaching a conclusion on that final outcome before
the end of June 2019.

The two Ministers agreed to continue meeting regularly to ensure that
all strands of work progress swiftly.