Air France/KLM is receiving a €7 billion rescue package with state support, French Prime Minister Bruno Le Maire announced on the 20 heures television program on Friday evening.
The French state, which owns 14.5 percent of the aviation giant, will provide 3 billion in direct loans and guarantees, while 4 billion will come from bank loans that are 90 percent guaranteed by the state.
”"It is a historic event. 7 billion to save our national company," the minister commented.
However, the support comes with conditions regarding profitability and sustainability, Bruno Le Maire continued.
According to the French newspaper Le Figaro, KLM could also receive just over 3 billion euros from the Netherlands within a few weeks.
Finance Minister Bruno Le Maire also announced that the government is planning a similar €5 billion support for car manufacturer Renault.
Source: di.se
