French finance minister Francis Mer says Air France and Snecma are ready for sell-off, and, although he gives no firm dates, hints this will be achieved by early next year. He says the "imminence" of an agreement between Air France and KLM, which should officially announce an alliance this week, will lead to Air France's "privatisation", by reducing the state's holding to under 50%. Mer adds that the state will cut its 97.2% share in Snecma. "Snecma was ready two years ago and is ready again," he says, adding that privatisation will "probably not [be] in the next three months, but...maybe" in early 2004. He says timing depends on stock market conditions.
Source: Flight International
