Aerotranscargo to obtain Dutch AOC, plans ten freighters

Air France-KLM launches €2.26bn share issue

Air France-KLM has launched a capital increase to bolster its finances and repay more of the state aid it received during the pandemic, saying that now is the right time to seek shareholder support amid an invigorated air travel market, it said in a statement and prospectus released on May 24.

The rights issue for existing shareholders targets a gross amount of EUR2,255,645,459 euros (USD2.41 billion), with 1,927,902,102 new shares to be subscribed in cash, “by payment in cash or by offsetting receivables”, at a unit price of EUR1.17 (USD1.25) on the basis of three new shares for one existing share. It will run from May 27 to June 9, inclusive.

The issue is the Air France and KLM Royal Dutch Airlines parent's second in just over a year and was widely expected. It takes it closer to repaying Covid-era government support and meeting European Union conditions for taking part in future mergers and acquisitions - such as the imminent privatisation of ITA Airways (AZ, Rome Fiumicino).

“The company...

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Aerotranscargo NL declared bankrupt before lift-off

According to official records, Aerotranscargo NL (Amsterdam Schiphol), which only announced its launch in February and was due to start flights this summer, has been declared bankrupt by the Noord-Holland Court in The Netherlands.

The court declaration was made on May 18, 2021, and the case was filed on May 19, 2021, under the insolvency number F.15/21/72. The appointed curator is Christian Hartsuiker of law firm SWDV Advokaten with offices in Haarlem, Hoofddorp, and Purmerend.

According to records, ATC NL was registered on December 3, 2020, to operate from Amsterdam Schiphol to fly cargo to China, Hong Kong Int'l, and the United States.

Initial reports said the company was a subsidiary of Moldova-registered Aerotranscargo (F5, Chisinau), which has its operational headquarters in Sharjah (UAE) and a head office at Chisinau. However, Chief Executive Officer, Peter Scholten, confirmed to ch-aviation that ATC NL was not a subsidiary of Aerotranscargo in Moldova. "I was the majority shareholder of the company", said Scholten, a former executive at Martinair (MP, Amsterdam Schiphol...