Airlines reduce Amadeus stake
PARIS, 2 March, 2012: Air France-KLM launched the sale of half its stake in Spanish group Amadeus, a world leading technology provider for the travel, tourism and airline industries, a spokesman for the airline said on Thursday.
“Air France-KLM launched the sale of a block of shares representing 7.5% of (Amadeus) capital,” an spokesman from the Franco-Dutch carrier said.
The transaction was worth 467 million euros (US$621 million), a statement issued by the airline group said later.
Air France-KLM is to retain 7.72% of Amadeus for at least 90 days, while the German airline Lufthansa owns 7.61% and Spanish carrier Iberia owns 7.50%.
The French carrier can usee the money to trim its debt of 6.5 billion euros.
It is also expected to post an operating loss when 2011 earnings are released next week.
Shares in Amadeus gained 1.29$ to 14.485 euros in afternoon trading on the Madrid stock exchange, while the Ibex-35 index was 0.86% higher overall.
In Paris, Air France-KLM was off by 0.79% at 4.40 euros while the main CAC 40 index had gained 1.07%.
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