Feb. 27 marked a watershed moment for Air France-KLM. The Dutch government revealed it had secretly bought close to 13% of the group to ensure Dutch interests in the company are protected. The government wants to increase its stake further, to match the French government’s 14.3% share. The move sends a strong and concerning signal to the industry. The Dutch government, with an advanced liberal economy, believes it is necessary to go back in—even as, for decades, governments in ...

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