Air France KLM Raises $2.4 Billion from Rights Issue

Cash-strapped French-Dutch airline, Air France KLM, has raised $2.4 billion from a new capital increase announced last month, which will mostly be used to pay back state aid.

In a statement, the carrier said that demand for the new shares issued in the rights issue — where existing shareholders have preferential subscription rights — amounted to 2.6 billion euros, outstripping the number of shares on offer.

The French and Dutch governments participated fully in the capital increase, meaning their shareholdings of 28.6% and 9.3% respectively would remain unchanged.

Shipping giant CMA CGM, based in Marseille, became the next-biggest shareholder with a stake of 9.0%.

Two other shareholders — China Eastern Airlines and Delta Airlines — saw their stakes reduced to 4.7% and 2.9% respectively.

See Also:

Air France KLM Posts €552 Million Net Loss in Q1 2022

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