AccorHotels has ended its interest in acquiring a stake in Air France-KLM, but not in “a strengthened partnership” with an airline or airlines.
The hotel group was interested in acquiring the French government’s 14% stake in the airline, valued at about €430 million, and in the opportunities to combine the groups’ data and loyalty programs.
In a statement released alongside half-year results this week, Accor said: “[The] required conditions for the acquisition of a minority stake in Air France-KLM have not been met at this stage.
“AccorHotels has decided not to further pursue this opportunity.” It noted: “The group remains convinced that a strengthened partnership between hotel companies and airlines offers significant value creation potential.”
Get the full story at Travel Weekly UK