Air France-KLM completes €2.256bn rights issue

Air France–KLM has successfully completed its share capital increase with preferential subscription rights. Following the subscription period, which ended on June 9 2022, the total demand amounted to approximately 2,240 million shares, for an amount close to €2.6bn, corresponding to a well oversubscribed transaction with a take-up rate of approximately 116%. Some 1,831,278,510 new shares were subscribed on an irreducible basis, representing approximately 95% of the new shares to be issued; while orders submitted on a reducible basis represented 409,004,428 new shares and will therefore only be partially allocated for a number of 96,623,592 new shares. The final gross proceeds of