French hotels giant AccorHotels today said it has dropped plans to buy a minority stake in AirFrance-KLM, which has been wracked by months of crisis triggered by a wave of strikes.
On June 3, 2018, as part of its strategy to enrich its range of services in the travel space, AccorHotels stated that it was considering the establishment of a strategic alliance with Air France-KLM.
Reflections included a potential acquisition of a minority stake in the capital of Air France-KLM, jointly with French and European investors.
In its half-year earnings report, AccorHotels said it has dropped any plans to take a stake in the airline:
“The Group remains convinced that a strengthened partnership between hotel companies and airlines offers significant value creation potential. However, given that required conditions for the acquisition of a minority stake in Air France-KLM have not been met at this stage, AccorHotels has decided not to further pursue this opportunity.”