newstodate.aero
Jun 22, 2007 (newstodate): Martinair finds its currrent twin-ownership structure incompatible with its needs to reposition itself in a changing market.
As a result, negotiations will now be conducted to seek a single-ownership structure, preferably, says the carrier, with KLM.
After the acquisition in August, 2005, by the A. P. Moller - Maersk A/S of Royal P&O Nedlloyd, Martinair, part of the package, became 50 percent owned by A P Moller with KLM/Air France holding the other half of the stakes.
Martinair Cargo is found to be in sound development, and the airline's long-haul business also has potentials but needs drastic improvements in results to be sustained, while the carrier plans to retreat entirely from the short-haul business.
As a result, negotiations will now be conducted to seek a single-ownership structure, preferably, says the carrier, with KLM.
After the acquisition in August, 2005, by the A. P. Moller - Maersk A/S of Royal P&O Nedlloyd, Martinair, part of the package, became 50 percent owned by A P Moller with KLM/Air France holding the other half of the stakes.
Martinair Cargo is found to be in sound development, and the airline's long-haul business also has potentials but needs drastic improvements in results to be sustained, while the carrier plans to retreat entirely from the short-haul business.