Air France-KLM prices capital hike at 4.84 euros per share

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Air France-KLM on Tuesday launched a capital hike at 4.84 euros ($5.76) per share as part of a 4 billion-euro recapitalisation to shore up its finances amid the COVID-19 crisis.

The airline said in a statement it could raise up to 1.036 billion euros if demand was sufficient to exercise an option to increase the size of the rights issue.Shares of the Franco-Dutch company were down 4.33% at 5.08 euros at 0810 GMT, the worst performer on France’s French SBF 120 index.

Air France-KLM said on Monday it will expand its partnership with China Eastern Airlines, as the Chinese carrier committed to subscribe to the issue. It will hold less than 10% of the firm’s capital.Reporting by Matthieu Protard; Editing by Kirsten Donovan

 

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