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China Eastern and Air France-KLM extend code-share agreement to Beijing-Paris and Amsterdam services
April 13th 2021
Air France-KLM and China Eastern Airlines (CEA) said overnight they planned to expand their joint venture to code-sharing on the Paris-Beijing and Amsterdam-Beijing routes. Read More » The airlines also will work towards "intensified commercial cooperation and an extended collaboration in non-commercial related activities", including ground services, catering or maintenance. Air France-KLM said the decision to broaden the partnership was made in the context of CEA's participation in the European airline group's capital raising. "With this expansion of the cooperation between Air France-KLM and China Eastern Airlines, both airline groups clearly are paving the way to create the most efficient and powerful joint venture between Europe and China," Air France-KLM said.
On April 6, the European carrier announced a recapitalisation program that included the sale of new shares to raise about one billion Euros (US$1.2 billion). CEA has an 8.8% holding in the company and has committed to participation in the equity raising while keeping its shareholding below 10%. The French government will subscribe to the share sale, stating it was committed to buying shares that could increase its equity in the airline from 14.3% to a maximum of 29.9%.
