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Extra billion dollar support for Air France is said to be a matter of time | NOW

The French government is about to provide the national airline Air France with additional financial support, insiders say to the news agency on Saturday. Bloomberg. The French would only wait for approval from Brussels and Air France-KLM. The aid package would consist of several billion euros and would be announced in the course of next week.

Earlier this week, the French business newspaper reported The echoes even though the French government and the European Commission had reached an agreement on the concessions that Air France must make in exchange for extra state aid.

In return for new aid, Brussels would demand that Air France give up some of its so-called slots, or coveted take-off and landing rights at airports. Last year, the German Lufthansa had to do the same: the airline then surrendered 24 slots at the airports of Munich and Frankfurt in exchange for billions in support for the group.

France and the Netherlands, both of which have an interest of around 14 percent in Air France-KLM, have already come to the aid of the airline combination with 10.4 billion euros in loans and credit guarantees. Due to the persistent travel restrictions in the fight against the corona virus, the company still spends more money than it receives, so according to the company top, new own capital is now mainly needed so that the debt burden does not increase further.

French and Dutch ministers also previously considered it likely that Air France-KLM needs extra support. The national airlines are seen as strategically important companies for the Dutch and French economy.

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Source site www.nu.nl

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