French Government to Sell 30-40 Percent Stake in Air France

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Last updated at: (Beijing Time) Thursday, December 19, 2002

French Government to Sell 30-40 Percent Stake in Air France

The French government will sell 30 to 40 percent of the capital of Air France as part of its plan to privatize the world's third largest air transport company.

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The French government will sell 30 to 40 percent of the capital of Air France as part of its plan to privatize the world's third largest air transport company.

"About 30 to 40 percent of the capital of the company in which the State still holds 54.4 percent now, will be put into the market," announced French Transportation Minister Gilles de Robienafter Wednesday's weekly cabinet meeting.

"The State will keep one part of the capital, but a very important part will be open to the market," he said, adding: "Of course, Air France is to remain a French company."

The selling will start when the situation of the market is favorable, said Minister of Economy and Finances Francis Mer afterthe cabinet meeting adopted the law project concerning the privatization of Air France.

With a fleet of 373 planes, Air France assures over 1,700 flights connecting 200-more destinations in 85 countries. It ranksas the world's third largest airlines judged by the number of passengers transported on international routes.

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