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TRANSPORTATION: Air France-KLM; Rotation of PMs has injected hope for tax relief

TRANSPORTATION

(NR/BB+/BBB-) (Equities +5%)

Headlines are celebrating the potential of proposed taxes going away (one of which is hefty airfare taxes on departing airlines). Our political analyst is cautions on making that read-through noting there is now the chance that the centre-left socialist party could be included in the next government - i.e. the new government could move more to the left.

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