Air France-KLM to sell 7.5% stake in Amadeus

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Air France-KLM has announced that it is to sell a further portion of its shareholding in distribution specialist Amadeus.

Air France will sell 7.5% of Amadeus through an institutional private placement.

The carrier in 2010 reduced its stake in Amadeus by 31% to 15.91% through an initial public offering. Today's announcement will see the airline reduce its shareholding even further.

Lufthansa also reduced its shareholding in Amadeus by 16% to 7.96% in 2010. Amadeus' third airline shareholder, Iberia, did not take part in the IPO.

Air France said the results of today's private placement would be announced "as soon as possible".

The carrier's chief financial officer, Philippe Calavia, said in November that its stake in Amadeus was worth over €800 million ($1.1 billion), noting that this would help provide "certain room for manoeuvre until 2016".