VENTURE CAPITAL POST

Air France and KLM are planning to reinstate direct flights to Iran, now that the international sanctions regarding the country's nuclear ambitions are lifted. Iran also planned to request direct flight to the U.S, for the first time since the two countries broke their diplomatic relationship 36 years ago. Air France and KLM are expected to start flying to Iran within the next three months.

Ater an unsuccessful negotiation with pilot unions, Air France announced it would cut 2900 jobs. Air France-KLM is about to cut 2900 jobs after pilot unions disagreed to compromise with the company's settlement. The board had a meeting on Thursday and ordered the management to minimize some of its operations on October 5, BBC reported.

Qatar Airways has bought a 9.99 percent stake in International Consolidated Airlines Group (IAG) worth around 1.15 billion pounds ($1.7 billion), building closer ties with the owner of its partners British Airways and Iberia in the oneworld alliance.

A majority of Air France (AIRF.PA) pilots backed a deal reached in October to develop the company's low-cost operations in France, the airline said on Wednesday.

Venerable old airlines Lufthansa (LHAG.DE) and Air France (AIRF.PA) know the smart money is in the low-cost market –Ryanair (RYA.I) raised its forecasts again on Thursday - but powerful labor unions are keeping them from the bounty.

Air France sought to bring a costly 12-day pilots strike, over the expansion of its budget Transavia unit, to an end on Friday with a series of proposals that won the backing of the company's board and French Prime Minister Manuel Valls.

A bitter Air France labor dispute deepened on Monday as management pledged to press ahead with its low-cost airline ambitions and pilots said that an eight day-old strike over the proposals would continue indefinitely as a result.

Air France pilots have voted to extend their week-long strike over cost cuts and plans for the company's Transavia unit by a further four days until Sept. 26, the head of the SNPL union said on Saturday.