Accor mulls buying stake in strike-ridden Air France-KLM

A tie-up with Accor would give Air France a commercial partner as its biggest owner, after Les Echos reported that the hotel operator is considering buying the French state's holding

Europe’s biggest hotel operator is considering acquiring a minority stake in Air France-KLM, becoming the anchor investor in the French airline as it struggles to contain a bitter and costly labor dispute.

The prospect of Accor SA, operator of the Raffles, Sofitel, Mercure and Ibis brands, swooping in to buy the French government’s 14.3 per cent stake sent shares in Air France-KLM surging as much as 7.4 per cent on Monday. Accor stock slumped, with analysts at Sanford C Bernstein & Co saying the deal may be risky for the hotel owner based in Issy-les-Moulineaux, France.

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