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Air France-KLM gets $6 3b rescue, France to raise stake

PARIS (BLOOMBERG) - Air France-KLM will receive as much as 4 billion euros (S$6.3 billion) and the French government could raise its stake to as high as 30 per cent as part of a recapitalisation plan for the indebted carrier slammed by the pandemic. Air France will get up to 1 billion euros in fresh capital as part of a shareholder subscription, and convert a previous 3 billion-euro French loan into hybrid instruments, according to a statement on Tuesday (April 6) from the European Commission. In exchange, Air France will have to give up 18 daily slots at Orly airport outside Paris. The French government could become the biggest shareholder in the airline as part of the plan, French Finance Minister Bruno Le Maire said on France Inter radio.

French state could become biggest shareholder in Air France: minister

Air France-KLM Gets $4 7 Billion Rescue, France to Raise Stake

Air France Gets $4.7 Billion in French Recapitalization Plan Bloomberg 1 hour ago Tara Patel © Bloomberg A pedestrian wearing a protective face mask passes grounded Airbus A318, left, and A319 passenger aircraft, operated by Air France-KLM, on the tarmac at Blagnac Airport in Toulouse, France, on Tuesday, June 9, 2020. The French government unveiled a rescue plan for the struggling aerospace industry that includes billions of euros to support Airbus SE and its suppliers hard hit by the Covid-19 pandemic. (Bloomberg) Air France-KLM will receive as much as 4 billion euros ($4.7 billion) from the French government as part of a recapitalization plan for the indebted carrier, which has been slammed by the pandemic.

Air France Gets $4 7 Billion in French Recapitalization Plan

Air France-KLM Gets $4.7 Billion State Aid in Survival Step Bloomberg 6 days ago Tara Patel © Bloomberg A pedestrian wearing a protective face mask passes grounded Airbus A318, left, and A319 passenger aircraft, operated by Air France-KLM, on the tarmac at Blagnac Airport in Toulouse, France, on Tuesday, June 9, 2020. The French government unveiled a rescue plan for the struggling aerospace industry that includes billions of euros to support Airbus SE and its suppliers hard hit by the Covid-19 pandemic. (Bloomberg) Air France-KLM will receive as much as 4 billion euros ($4.7 billion) in a French rescue plan that may not be enough to see the embattled carrier through the still-raging pandemic.

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