ESG Bonds: Air France-KLM published a Sustainability-Linked Bond (SLB) Framework, where it commits to reduce emission intensity by 10% by 2025 and by 30% by 2030.
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Why merge? The merger made sense for many reasons, not least to reduce cost in both airlines. Strategically, KLM's senior management had concluded that there was only room in Europe for three main airline groups. To survive, it needed to align itself with either British Airways, Lufthansa or Air France.
In 2004 Air France acquired the Dutch airline KLM to create Air France–KLM Group, one of the largest air carriers in the world. The deal, however, allowed the two airlines to continue to operate as separate companies, retaining their own hubs, flights, and logos.
Flying Blue is the joint loyalty programme of Air France, KLM, Transavia, Aircalin and TAROM. Members can earn Miles during their trips with Air France, KLM, and their partner airlines or when purchasing services from non-airline partners (hotel chains, car rental companies, etc.).
Excluding special items, IAG reported an operating profit of €1.745 billion ($1.853 billion) with an operating margin of 20.2 percent, while Air France-KLM said it made €1.3 billion in operating profit with an operating margin of 15.5 percent.
Come fly with us to discover stories and pictures from aviation history. KLM stands for 'Koninklijke Luchtvaart Maatschappij', literally translated as 'Royal Aviation Company'. Despite having merged with Air France in 2004, KLM is still seen as a truly Dutch icon.
Private shareholders own 81.4% of the company with 37% held by former Air France shareholders and 21% held by former KLM shareholders. The Government of France owns the remaining 15.9%.