A.P. Moller – Maersk sells Martinair stake to KLM
The European Commission had approved A.P. Moller – Maersk’s sale of its 50 percent shareholding in Martinair Holland to KLM Royal Dutch Airlines, which will now become the sole owner.
Maersk first announced plans to sell its half interest in the cargo and charter airline in 2007. The sale is effective Dec. 31.
“This decision brings the envisaged synergies and economies of scale within reach, a necessity to be successful as an airline in the current market circumstances,” said Martinair in a statement. “KLM and Martinair can strengthen one another by benefiting from each other’s expertise and position in different markets. With her 50 years of experience in cargo and passengers services Martinair can be a good addition to the worldwide product of the KLM Group.”
The company said it will retain its own identity. Based at Amsterdam’s Schiphol airport, Martinair employs about 2,000.