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KLM becomes full owner of Martinair

18th December 2008 Print
KLM and A.P. Moller - Maersk Group have agreed on the sale of A.P. Moller – Maersk Group’s 50% stake in Martinair to KLM, with the transaction being cleared by the European Commission yesterday. KLM already held a 50% stake in Martinair for a number of years previously. With this acquisition, KLM aims to strengthen its strategic position and to extend its network and services to the customer.

KLM President and CEO, Peter Hartman: “The airline industry in general is experiencing turbulence, Martinair in particular. With the European Commission approval, economies of scale and synergies become available. Plans for the future of Martinair within the Group will be developed in the coming period."

President and CEO of Martinair, Paul Gregorowitsch: “With its 50 years of history in the field of air cargo and passenger business, Martinair can play an excellent complementary role in the worldwide product of the KLM Group. For Martinair and its 2000 employees, this is encouraging news after a long period of uncertainty. The Martinair restructuring activities can be actively continued given this perspective.”