Shortsellers Rejoice As Air France – KLM Plunges On Profit Warning

The troubles of Franco-Dutch carrier, Air France – KLM (ADR) (OTCMKTS:AFLYY) (EPA:AF), continue to pile up. The company issued a profit warning Tuesday, July 8th, putting further pressure on the second largest European carrier. Odey, Marshall Wace and Discovery short Air France Meanwhile some of London’s biggest hedge funds were increasing their shorts in Air France – KLM (ADR) (OTCMKTS:AFLYY) (EPA:AF) over the past weeks, as short interest is now over 4% according to AMF France. Tiger cub Robert Citrone’s Discovery Capital has a short amounting to 0.96% of Air France’s outstanding shares. Marshall Wace has the largest bet of 1.5% against the…