Cross-Equity Between Alitalia and Air France

In accordance with the agreements signed in July 2001, Air France and Alitalia have decided to take the development of their alliance one step further.
The Boards of both airlines today approved the setting up of a cross-equity scheme of 2% in the capital of each partner. The two operations entail the purchase of shares on the stock market or negotiations of blocks of shares at market conditions, and will be finalized by the end of January 2003.
This cross-equity scheme, together with the existing reciprocal representation on their Boards of Directors, reflects the determination of Alitalia and Air France to build a long-term partnership, while strengthening ties among the European airlines in the SkyTeam alliance.