Air France launched its public offer for KLM on 5 April, starting a process that will reduce the French government's stake in its flag carrier to 43.7% from 54%. The offer closes on 3 May and the results will be announced by 5 May. The Air France-KLM holding company will be quoted on the Paris, Amsterdam and New York stock exchanges. It will be the largest airline in the world in terms of turnover - €20 billion ($24.3 billion) - and will be the third largest in terms of traffic behind American Airlines and United Airlines (Flight International, 7-13 October 2003).
Source: Flight International
