Air France-KLM said on Dec. 24 that it has agreed to buy European regional carrier VLM Airlines.

Air France-KLM said in a statement VLM Airlines, which is a unit of Dutch company Panta Holdings B.V., operates a fleet of 19 aircraft and operates most of its flights from London City Airport.

"VLM Airlines will actively cooperate with the regional carrier CityJet, a 100 percent subsidiary of Air France, already operating out of London City Airport," Air France-KLM said, without disclosing financial details.