法航荷航7月28日宣布进一步加强战略合作伙伴关系的两大举措：首先，法航荷航集团、达美航空和维珍大西洋航空将进行全球联营合作；其次，进一步巩固深化与中国东方航空之间的合作。通过股权投资，两大商业联盟将得以强化：
• 法航荷航集团将以2.2亿英镑购买维珍集团旗下维珍大西洋航空31％股份
• 达美航空和东航分别购买法航荷航集团的10％股份，定向增资总额为7.51亿欧元
Air France-KLM today announces a further major step in the strengthening of its strategic partnerships with, firstly, the creation of a single global joint-venture between Air France-KLM, Delta Air Lines (Delta) and Virgin Atlantic and, secondly, the strengthening of its partnership with China Eastern Airlines (China Eastern). These two commercial alliances will be strengthened by equity investments:
• Air France-KLM will acquire Virgin Group’s 31% stake in Virgin Atlantic for around £220 million.
• Delta and China Eastern will each acquire a 10% stake in Air France-KLM by subscribing new shares through capital increases totalling €751 million.
借助战略合作、商业和资本强化等措施，法航荷航集团将成为全球航线网络中的欧洲巨擘。
The strategic, commercial and capitalistic reinforcement of these partnerships will position Air France-KLM as the European pillar of the leading global airline network.
打造航空界全球化程度最高的合作伙伴关系
At the heart of the most global partnership in the airline industry
法航荷航集团、达美航空、维珍大西洋航空于今日签订谅解备忘录，为未来全球范围内的合作奠定了基础。此举将之前法航荷航集团、达美航空和意大利航空达成的联营合作，与法航荷航集团与达美航空和维珍大西洋航空之间组建的新合作整合为一，标志着航空业界最先进的合作模式的进一步扩展和深化。待签署最终协议并经相关监管机构批准之后，新的联营合作将进一步增强如下集团优势：
• 在跨大西洋航线上为客户提供无与伦比的产品及服务
• 推动合作伙伴的运力增长
• 设立次级合作伙伴，允许其他公司后期多方参与
• 在为期15年内扩大合作关系
• 得益于往返伦敦的代码共享、销售协调、扩展合作以及成本节省计划，获得显著协同成效
Air France-KLM, Delta and Virgin Atlantic today signed a Memorandum of Understanding laying the foundations for a future combination of the existing joint-ventures between firstly Air France-KLM, Delta and Alitalia, and secondly between Delta and Virgin Atlantic, within a single joint-venture. This step will mark the expansion and strengthening of one of the most advanced partnership models in the airline industry. Subject to the signature of the definitive agreements and the approval of the relevant regulatory authorities, this joint-venture will enable the Group to:
• Offer customers an unrivalled proposition on the trans-Atlantic axis,
• Drive the capacity growth of the partners,
• Create an associate partner status enabling the inclusion of other players at a later stage,
• Establish a partnership over a 15-year period,
• Generate significant synergies within the joint-venture thanks to new code shares to/from London, sales coordination, the extended partnership and cost savings.
此项联营合作将进一步巩固法航荷航集团在北美和欧洲市场的领导地位，打造大西洋两岸最强大的航空网络，拥有12个航空枢纽：阿姆斯特丹、亚特兰大、波士顿、辛辛那提、底特律、洛杉矶、伦敦希斯罗机场、明尼阿波利斯—圣保罗、纽约肯尼迪、巴黎戴高乐、盐湖城和西雅图机场。
The creation of this joint-venture will thus consolidate Air France-KLM’s leadership position in the North-American and European markets with the largest airline network articulated around twelve powerful hubs on both sides of the Atlantic: Amsterdam, Atlanta, Boston, Cincinnati, Detroit, Los Angeles, London Heathrow, Minneapolis-St Paul, New York-JFK, Paris-CDG, Salt Lake City and Seattle.
与此同时，法航荷航集团与中国东方航空公司将进一步加强商业合作，在现有联营合作框架内强化合作伙伴关系：
• 通过长期合作，巩固加强法航荷航集团在中国的市场地位
• 在中国市场主要目的地城市上海，使得法航荷航集团成为欧洲航线的领先企业
• 为客户提供更好的服务
• 加强合作，实现航线网络、票价和运营的协同增效
In parallel, Air France-KLM and China Eastern will step up their commercial cooperation and reinforce their partnership within the framework of the existing joint-venture, to:
• Secure and reinforce Air France-KLM’s presence in the Chinese market thanks to a long-term partnership.
• Give Air France-KLM a European leadership position on Shanghai, the main business market in China.
• Improve the services for our customers.
• Enable increased cooperation in terms of the network, pricing and operational synergies
该项合作将按照达美航空的合作战略进行，达美航空目前持有中国东方航空公司3.2%的股份。该合作将不会影响当前法航荷航集团与中国南方航空公司之间的联营业务。
The strengthening of this cooperation will take place in accordance with the partnership strategy of Delta, which already holds a 3.2% stake in China Eastern Airlines Corporation Limited. This cooperation does not call into question the current joint-ventures between the Air France-KLM Group and China Southern.
借助与达美航空、维珍大西洋航空以及中国东方航空之间的合作协议，法航荷航集团能够为客户提供更广阔的航线网络，以及更广泛的分销网点。作为“互信”战略计划的重要组成部分，这些合作伙伴关系将为集团的盈利增长提供支持，使法航荷航能够为客户提供无与伦比的产品和服务。
All of these agreements with Delta, Virgin Atlantic and China Eastern Airlines will enable Air France-KLM to offer its customers an expanded network and to capitalize on the pooling of extensive distribution networks. As an integral part of the Trust Together strategic plan, these partnerships will support the Group’s profitable growth and enable Air France-KLM to offer its customers an unparalleled proposition.
通过收购股权深化合作
einforcing the partnerships via the acquisition of equity stakes
为了巩固此项新的跨大西洋联营合作，法航荷航集团宣布以约2.2亿英镑入股维珍大西洋航空，对应股权比例为31%。此笔交易将于2018年进行，但仍需经过各相关监管部门的批准。继达美持股维珍大西洋航空49%之后，法航荷航集团将成为维珍大西洋航空的第二大股东，且在董事会内委派董事人数与达美航空相同。
To consolidate the new trans-Atlantic joint-venture, Air France-KLM has announced plans to acquire a 31% stake in Virgin Atlantic for around £220 million. This transaction should take place in 2018, after approval by the relevant regulatory authorities. Air France-KLM will become the second largest shareholder in Virgin Atlantic after Delta which holds 49%, and will have the same level of representation as Delta within the Board of Directors.
此外，作为法航荷航集团的长期合作伙伴，达美航空与中国东方航空将分别以每股10欧元的价格出资认购法航荷航集团10%的股权，总价值为7.51亿欧元。与过去12个月的平均股价相比，此交易价格溢价42%；自2017年2月16日公布的2016年财报之后，与平均股价相比，溢价幅度为13%。相较2017年7月26日收盘价，此次认购价格折价17% 。
In addition, Delta and China Eastern, who are now Air France-KLM’s very long-term partners, will subscribe equal amounts to two reserved capital increases totaling €751 million at a subscription price of €10 per share, enabling them to acquire 10% each of the Air France-KLM share capital. This price represents a 42% premium relative to the average share price over the last 12 months and a 13% premium relative to the average share price since the announcement of the 2016 annual results on 16th February 2017. Relative to the closing share price of 26th July 2017, the subscription price represents a 17% discount.
以上定向增发出资首先需要经过2017年9月4日召开的法航荷航集团临时特别股东大会上股东批准，以及相关监管部门的批准；此外，此次定向增发的招股说明书也将提交给法国金融市场管理局（“AMF”）审批。出资认购股权后，中国东方航空和达美航空将各任命一位董事进驻法航荷航集团董事会。
The realization of these reserved capital increases will be subject to approval by the Air France-KLM shareholders during an Extraordinary Shareholders’ Meeting convened for 4th September 2017, and to approval by the relevant regulatory authorities. These reserved capital increases will be the subject of a prospectus to be submitted for authorization by the Autorité des Marchés Financiers (“AMF”). The acquisition of these stakes will be accompanied by the appointment of two Board directors to the Air France-KLM Board of Directors, the first nominated by China Eastern and the second by Delta.
股份认购协议书由法航荷航集团与达美航空和中国东方航空公司分别签署（后二者并无共同行动），有效期为25年，还包括一份合作承诺书，承诺互持一定数量的股份（特殊情况除外）、5年内将不再购买超过10%的股份。另外，未经法航荷航董事会批准，合作伙伴不得将股份出售给另一家航空公司。
The subscription agreements signed separately with Delta and China Eastern, who are not acting in concert, have a 25-year duration and include a commitment by the partners to retain their shares subject to a number of exceptions and not to purchase shares potentially leading to the crossing of 10% threshold in the share capital for five years. The partners have also made a commitment not to sell their stakes to another airline without the agreement of the Air France-KLM Board of Directors.
增资将有助于改善法航荷航集团的财务结构，进一步减少净债务，用于购买维珍大西洋航空公司的股份。
These capital increases will enable an improvement in Air France-KLM’s financial structure, accelerate the reduction in its net debt and finance the purchase of the stake in Virgin Atlantic.
法航荷航集团总裁兼首席执行官让•马克•雅纳亚克表示：“此次规模空前的合作将巩固法航荷航集团在全球航空领域的领先地位。我们携手达美航空与维珍大西洋航空，不断增进与跨大西洋联运伙伴之间的合作，打造欧洲与美国之间交通领域的最强联盟。与中国东方航空公司合作，在高增长市场上不断加强市场地位。得益于法航荷航集团员工的兢兢业业与不懈努力，集团业绩不断提升，进一步巩固了与战略合作伙伴之间的关系。以上合作协议将继续推进‘互信’战略项目所部署的一系列价值创造举措。”
Jean-Marc Janaillac, Chairman and Chief Executive Officer of Air France-KLM, said: “This partnership which is unprecedented in scale gives Air France-KLM a leadership position in the worldwide airline industry. With Delta and Virgin Atlantic we are reinforcing our trans-Atlantic alliance, making us the number one alliance between Europe and the United States in terms of traffic. With China Eastern, we are consolidating our position on a high-growth market. The commitment and efforts of Air France-KLM staff have enabled an improvement in our performance and the securing of these strategic partnerships. These agreements accelerate the value-creation initiatives deployed through the Trust Together project.”
预计交易时间表：
Planned calendar for the transaction:
• 2017年9月4号：临时特别股东大会批准增资，任命新任董事会成员
• 一旦获监管部门批准：增资完成。
• 4th September 2017: Extraordinary Shareholders’ Meeting to approve the capital increases and the appointment of the new members of the Board of Directors
• Once the regulatory approvals are obtained: realization of the reserved capital increases.
关于法航荷航集团
About Air France-KLM
法航荷航集团在从欧洲出发的国际航运网络上处于领先地位。借助法航、荷航、泛航和法航HOP！这四个品牌，法航荷航集团的航线网络在2016年已覆盖114个国家的320个目的地。2016年，集团机队共拥有飞机534架，运送旅客多达9,340万人次，从巴黎戴高乐机场和阿姆斯特丹史基浦机场这两个枢纽出发的日均航班数多达2,200个。法航荷航集团的“蓝天飞行”常旅客计划拥有2,700万会员，在欧洲处于领先地位。法航荷航与合作伙伴达美航空及意大利航空运营着全球最大的跨大西洋航空联运网络，每天航班270个。法航荷航是天合联盟的成员，天合联盟共有20家航空公司成员，每天为旅客提供16,270个航班，覆盖179个国家的1,057个目的地。
Air France-KLM is the air transport leader in terms of international traffic on departure from Europe. In 2016, it offered customers a network covering 320 destinations across 114 countries, thanks to its four brands, Air France, KLM Royal Dutch Airlines, Transavia and HOP! Air France. With a fleet of 534 aircraft in operation and 93.4 million passengers carried in 2016, Air France-KLM operates up to 2,200 flights a day, principally on departure from the Group’s Paris-Charles de Gaulle and Amsterdam-Schiphol hubs. Its Flying Blue frequent flyer program ranks amongst the leaders in Europe and numbers more than 27 million members. With its partners Delta Air Lines and Alitalia, Air France-KLM operates the largest trans-Atlantic joint-venture with 270 daily flights. Air France-KLM is also a member of the SkyTeam alliance bringing together 20 airlines and offering access to a global network of more than 16,270 daily flights to 1,057 destinations in 179 countries.
