Originally Posted by Cholula
Isn’t AF propped up to a large degree by the French government?
And this comment is not meant to start a discussion on the US bail-out of DL and the other majors.
As a matter of policy, haven’t many of the European national carriers traditionally been subsidized by their respective governments?
My original point wasn’t who has the most cash in 2005 but what SkyTeam members can make claim to being the true leaders of the alliance.
AF has been privatized recently, in 2003 and the government doesn't have more than 30% now,that's why it was possible to merge with KL.AZ hasn't privatized yet and it's in bad shape.AZ almost merged with KL in '99-'00,but then they failed to privatize and KL thought better to live them alone,paid a fine of €250 millions and got back €100 million from AZ that were for MXP development.The italian treasury still has 62% of AZ shares and until it goes well under 50% AZ is at risk.AF-KL will welcome(and probably eat them alive)AZ once privatized.
my 2 cents