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AccorHotels drops plan to buy minority stake in Air France-KLM

Updated : July 26, 2018 03:47 PM IST

While some investors said they saw sense in a tie-up between AccorHotels and Air France-KLM, notably through cooperation on loyalty programmes, others had questioned why Accor would need to buy a stake in the troubled airline.
The airline has been hunting for a new boss to fill a gap left by the abrupt departure of chief executive Jean-Marc Janaillac in May, after staff rejected a pay proposal aimed at ending strikes that have resulted in heavy losses.
AccorHotels drops plan to buy minority stake in Air France-KLM
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