Just_Another_Pilot
September 21, 2000, 05:00 PM
20 minutes ago on the dutch television BA and KLM announced that talks have been ended! In the following article from PRNewswire you can find some details, at this time a press conference is being held
NEW YORK, Sept. 21 /PRNewswire/ -- British Airways (NYSE: BAB) and KLM
today announced that they will not be proceeding any further in their talks on
a possible combination of their businesses.
Rod Eddington, Chief Executive of British Airways, and Leo van Wijk, Chief
Executive of KLM, said: "We have emphasized throughout that there was no
assurance that our discussions would lead to a deal.
"We always recognized that this would be a complex transaction, involving
not only commercial and economic issues, but also aeropolitical, regulatory
and other matters. Although we made considerable progress, it has not been
possible to resolve these.
"Although relations between the two parties remain amicable, we have had
to decide to draw a line under these negotiations."
Rod Eddington added: "In the meantime, we will continue to take steps to
improve the performance of our company, through our fleet and network
strategy, through continued product improvement and by working with our
established alliance and franchise partners."
Lord Marshall, British Airways' Chairman, said: "British Airways still
believes there must be consolidation in the European airline industry. Europe
is our backyard. We have always been a leading player in this market, and we
will continue to look for opportunities to strengthen our position in it."
Leo van Wijk, Chief Executive of KLM, said: "During the discussions with
British Airways, KLM has successfully continued to focus on the development
and the profitability of the company. While we continue to believe that
consolidation in European aviation industry is inevitable, we at the same time
remain convinced that for the foreseeable future, KLM has bright prospects on
its own. We are well positioned in Europe, are financially strong, and have a
profitable and growing business. Together with Northwest Airlines, we have one
of the most developed transatlantic alliances."
------------------
I am not afraid of crashing, my secret is . . . just before we hit the ground, I jump as high as I can.
— Bill Cosby
[This message has been edited by Just Another Pilot (edited September 21, 2000).]
NEW YORK, Sept. 21 /PRNewswire/ -- British Airways (NYSE: BAB) and KLM
today announced that they will not be proceeding any further in their talks on
a possible combination of their businesses.
Rod Eddington, Chief Executive of British Airways, and Leo van Wijk, Chief
Executive of KLM, said: "We have emphasized throughout that there was no
assurance that our discussions would lead to a deal.
"We always recognized that this would be a complex transaction, involving
not only commercial and economic issues, but also aeropolitical, regulatory
and other matters. Although we made considerable progress, it has not been
possible to resolve these.
"Although relations between the two parties remain amicable, we have had
to decide to draw a line under these negotiations."
Rod Eddington added: "In the meantime, we will continue to take steps to
improve the performance of our company, through our fleet and network
strategy, through continued product improvement and by working with our
established alliance and franchise partners."
Lord Marshall, British Airways' Chairman, said: "British Airways still
believes there must be consolidation in the European airline industry. Europe
is our backyard. We have always been a leading player in this market, and we
will continue to look for opportunities to strengthen our position in it."
Leo van Wijk, Chief Executive of KLM, said: "During the discussions with
British Airways, KLM has successfully continued to focus on the development
and the profitability of the company. While we continue to believe that
consolidation in European aviation industry is inevitable, we at the same time
remain convinced that for the foreseeable future, KLM has bright prospects on
its own. We are well positioned in Europe, are financially strong, and have a
profitable and growing business. Together with Northwest Airlines, we have one
of the most developed transatlantic alliances."
------------------
I am not afraid of crashing, my secret is . . . just before we hit the ground, I jump as high as I can.
— Bill Cosby
[This message has been edited by Just Another Pilot (edited September 21, 2000).]