May 15, 2018 / 8:06 AM / 2 years ago

France has no plans to reduce stake in Air France-KLM: Elysee adviser

PARIS, May 15 (Reuters) - France has no plans to lower its 14.3 percent stake in troubled airline Air France-KLM but it may not maintain this level forever, an adviser to French President Emmanuel Macron told reporters.

The French government has said it will not bail out the airline’s French brand, where a protracted dispute between management and unions over pay has forced the resignation of the group’s chief executive.

Air France-KLM’s board meets on Tuesday morning to appoint an interim chief executive. The French state is the group’s largest shareholder ahead of Delta Air Lines and China Eastern. (Reporting by Jean-Baptiste Vey and Michel Rose; Writing by Richard Lough)

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