Air France proceeds with IPO, despite recent labor row

Article Abstract:

Air France SA is continuing its plans for an initial public offering (IPO) despite some lingering labor disputes. The government of France started allowing investors to submit order for the IPO. Air France was experiencing a three-week mechanics' strike that has created some minor service disruptions. Air France did settle the dispute with an agreement with the mechanics on January 29, 1999. However, some mechanics did not report for work. The French government said that it would offer approximately 17% of the carrier in the IPO.

Comment:

Continuing its plans for an initial public offering (IPO) despite some lingering labor disputes

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Air France IPO will be unveiled soon, chief says

Article Abstract:

The government of France is expected to announce that Air France will hold an initial public offering of its shares. The government will place approximately 20% of Air France on the stock market. The move would raise between 3.5 billion French francs and four billion francs ($618.5 million to $706.8 million). The IPO will be taking place a year later than initially planned. In addition, Air France's pilots may receive as much as a 12% share in exchange for accepting wage freezes.

Comment:

Expected to hold an initial public offering of about 20% of its shares

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Iberia's planned IPO may get delayed

Article Abstract:

Iberia's planned initial public offering (IPO) for November 1999 could be delayed. This is according to a spokesman for SEPI, an industrial assets holding company owned by the Spanish government. The IPO could be postponed until the first-quarter of 2000. SEPI is the majority stockholder in Iberia. The firm has been privatizing Iberia since 1998.

Spain, Iberia Lineas Aereas de Espana S.A.

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