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Air France-KLM said Tuesday it had not made a bid for a stake in Austrian Airlines before the noon expiration of a deadline for offers, but it was interested in pursuing talks with Austrian authorities.
"Air France has not sent a firm offer for a stake in Austrian Airlines to the Austrian administration, but a letter reaffirming its interest in continuing talks at a later date," said a spokesman for Air France who asked not to be named, citing company policy.
Studies conducted over the last three weeks showed the two airlines’ networks are complementary and there is a potential for synergy, the spokesman said.
"However, the economic and financial context, in light of the proposed sales scheme, does not allow us to make a firm proposition such as requested by the seller," he added.
The Austrian government decided in early August to privatize Austrian Airlines, in which it holds a stake of roughly 43 percent. It has said that a condition of the sale was that 25 percent remain in Austrian hands. Air France-KLM has not indicated the possible size of an Air France stake.
source: the International Herald Tribune
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