FlyerTalk Forums - View Single Post - Dutch State raises stake from 5.9% to near 13%
Old Mar 1, 2019, 4:25 am
  #44  
brunos
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Originally Posted by JOUY31
"The state will retain its option for 3 to 6 years on 50.1 percent of the KLM shares, only to be exercised if landing rights abroad are threatened. Two foundations hold a very substantial share in KLM for 3 years. The Dutch state retains the 14.1 percent share in KLM. This interest will only be phased out by the state if the French government share in the Air France and KLM holding company is also substantially reduced.

It has also been stipulated that KLM will continue to fly from the Netherlands for the next 8 years. KLM also maintains its identity and brand for 5 years. According to the State Secretary, the second public interest was that Schiphol's main port position would remain intact.

(...)

If these state insurances are not complied with, the Dutch state can appeal to an arbitration panel. This gives a binding advice."

These commitments have all been honored by "the French" for the duration that was stipulated, 3 to 8 years. There has never been an appeal for arbitration from the Dutch state regarding a potential breach from "the French". No unilateral change has been made by "the French" since the time limit of these commitments has been exceeded.
Could someone spell out the current detailed structure of KLM ownership?

My understanding is that the KLM CEO is reappointed by the supervisory board of KLM. Given its current composition, it is unclear that AF has a veto power.
Again, our Dutch friends might have a better understanding of the situation.
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