Air France is primarily owned by a mix of private shareholders and the French Government, operating under the parent company Air France-KLM Group. As of early 2026, the Government of France maintains a significant stake of approximately 15.9% in the company, making it the single largest individual shareholder and ensuring the airline remains a protected "national champion." However, the airline is not "state-owned" in the traditional sense; over 80% of the company is held by private investors, including former Air France and KLM shareholders. Other notable strategic partners who hold smaller percentages include Delta Air Lines and China Eastern Airlines, though their stakes have fluctuated following various post-pandemic financial restructurings. While it operates as a private commercial entity on the Euronext Paris exchange, the French state’s involvement provides a level of sovereign backing that is critical for securing international traffic rights and maintaining its role as the primary flag carrier representing the French Republic on the global stage.