94% of voting shareholders approve China Eastern and Delta investment in Air France-KLM

The Air France-KLM (the Company) Combined Ordinary and Extraordinary Shareholders’ Meeting was held on Monday, September 4, in order to implement part of the strategic transactions presented on July 27, 2017.
More than 54.85% of the shareholders were present or represented at the Shareholders’ Meeting, where all proposed resolutions were adopted, together with a new resolution relating to the appointment of a nineteenth Board director. The following decisions were taken:
• The appointment of two new Board directors, one each representing China Eastern Airlines and Delta Air Lines, as from the completion of the reserved share capital increases and for a four-year period: Mr. Bing Tang and Delta Air Lines Inc. whose permanent representative will be Mr. George Mattson;
• The appointment of the company Air France-KLM Finance SAS, as nineteenth Board director, as from the completion of the reserved share capital increases to the benefit of China Eastern and Delta Airlines and for a four-year period, whose permanent representative will be a woman;
• The Board of Directors is authorized to implement the reserved capital increases for the benefit of China Eastern Airlines and Delta Air Lines each for a total nominal amount of 37,527,410 euros at a price of 10 euros per share;
• The completion of these reserved share capital increases will be subject to the approval of the corresponding regulatory authorities;
• Capital increases reserved for members of a company or Group savings scheme were authorized for a duration of 12 months and within a limit of 2% of the share capital. This authorization is in place of the resolution of the same nature which was voted by the Shareholders’ Meeting on May 16, 2017.
Jean Marc Janaillac, Chairman and CEO of Air France-KLM, said the following after the meeting had taken place: “Our shareholders have largely approved the strategic step forward proposed to them. The partnerships to be finalized with China Eastern Airlines and Delta Airlines are an integral part of the Trust Together project, which aims to resume the offensive and position Air France as the European pillar of the most integrated network of partners in the world. These operations also make it possible to continue improving the Group’s financial structure, thus confirming its ability to control its growth strategy.”