On 31 December 1953, the founder and president of KLM, Albert Plesman, died at the age of 64. He was succeeded as president by Fons Aler. After Plesman's death, the company and other airlines entered a difficult economic period. The conversion to jet aircraft placed a further financial burden on KLM. The Netherlands government increased its ownership of the company to two-thirds, thus partly nationalizing it. The board of directors remained under the control of private shareholders.
