Senior bankers in Paris have said it is unlikely that the privatisation of Air France will get off the ground this year, after the French ministry of finance denied reports in the French press that it will reduce the size of the sale of its stake in the national airline.

The French state currently owns 54.4% of the airline that was floated in 1999. Last summer it unveiled plans to sell up to 30% of Air France. This is part of an ambitious privatisation programme intended to raise more than €23bn ($24.7bn) by reducing the government's stake in 13 companies.