MPs dubious about effectiveness of Dutch state's Air France-KLM shares

Parties in the Tweede Kamer are doubtful about whether the Dutch State's purchase of 750 million euros in Air France-KLM shares is having the promised effect. Coalition party D66 and opposition parties PvdA and PVV, among others, want Finance Minister Wopke Hoekstra to show how the government's purchase of these shares improved KLM's position in the airline combination, NOS reports.

The Dutch State bought 14 percent of the shares in holding company Air France-KLM in February. This was done to be able to directly influence developments in the company and "properly safeguard" KLM's interests, Minister Hoekstra said at the time. But parliamentarians wonder if this is really happening.

According to D66 parliamentarian Jan Paternotte, KLM has in fact deteriorated in recent months and the share price fell sharply. "It looks as if nothing has come of the promise. I wonder if things are going in the right direction", he said to NOS.

The PvdA is also worried by the silence surrounding the promise Hoekstra made "with great aplomb", parliamentarian Henk Nijboer said to the broadcaster. The Minister said that agreements would be made about management positions and the important transfer function of Schiphol, among other things, Nijboer points out. "But we have heard nothing about it."

The PVV wants Prime Minister Mark Rutte to intervene and to safeguard the interests of Schiphol.

The Tweede Kamer, the lower house of Dutch parliament, will discuss the acquisition of the Air France-KLM shares with Hoekstra in the near future.