Air France-KLM : First wave of recapitalisation measures
>First step to bolster the capital - Air France-KLM has just announced a new series of measures:A conversion of the € 3bn shareholder loan from the French state into a hybrid perpetual bond with a non-call period of 4-6 years. The company underscores that these securities could be used to underwrite (by way of debt compensation) future equity or quasi-equity raising of capital.A capital increase of up to € 1bn without preferential subscription rights but wit...Air France-KLM is a holding company. Through its subsidiaries, Co. is engaged in transporting passengers and cargo, aeronautics maintenance and other air-transport related activities, including catering and charter services. Co. operates in six geographical regions: Metropolitan France; Europe (except France) and North Africa; Caribbean, French Guiana and Indian Ocean; Africa, Middle East; Americas, Polynesia; and Asia and New Caledonia. Co. organizes its business around the following four segments: Passenger, providing passenger transportation services on scheduled flights; Cargo, transporting freight on flights and selling cargo capacity to third parties; Maintenance, and Other activities.
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