KLM will see its shareholding fall from 26.73 per cent to 13.71 per cent, while the State’s stake in the cash-strapped airline has inreased from 29.8 per cent to 46.53 per cent. The Government, through the National Treasury Cabinet Secretary, will be allocated 13.9 billion shares. “In addition, KLM and KQ will be amending their long-standing joint venture agreement to further enhance the benefits to the company. Under the proposed cooperation agreement, the shareholders agreement entered into between the Government and KLM at the time of KLM’s initial investment in the company in 1995 will be terminated,” said the airline in a circular signed by the board’s chairman, Micheal Joseph.
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Does anyone know what the particulars of the joint venture are? I am certain it includes the AMS-NBO route, but also recall reading a while ago that it includes other East African destinations like EBB, DAR.