By Reuters Staff 2 Min Read PARIS, April 5 (Reuters) - The board of Air France-KLM was meeting on Monday to approve new French government-backed refinancing measures designed to see the airline group through the COVID-19 crisis, sources close to the situation said. Air France-KLM is expected to convert part of its 4 billion euros ($4.7 billion) in direct government loans into hybrid instruments and raise new equity capital under the plans to be announced by Tuesday morning, the sources told Reuters. The company and the French finance ministry both declined to comment on Monday. Air France-KLM, which last year received a total of 10.4 billion euros in loans backed by France and the Netherlands, has for months been discussing a multi-stage recapitalisation plan to lighten the resulting debt load.