Frence Promises Strong Support to Air France-KLM
The country’s finance minister promised to help the company affected by covid-19.
The cash injection, which could represent “many billions” of euros, would add to the state-backed loans worth about 6 billion euros ($ 6.5 billion) that the company is currently negotiating with Lenders said Les Echos, without saying where he got the loan.
KLM officials declined to comment on the report. On Friday, French Finance Minister Bruno Le Maire promised to lend strong support to Air France-KLM, after the airline warned that without additional funding, it would need to increase liquidity in the three months through September, despite the Drastic cost-cutting measures including cutting planned investments and speeding up retirement portions of your fleet.
The airline industry has been affected by the global expansion of Covid-19 when the epicenter moved from China earlier this year to Europe and then settled in the America.
KLM still expects flight activity in the coming months to be approximately 10% of last year’s levels.
Frence Promises Strong Support to Air France-KLM - /10
The country's finance minister promised to help the company affected by covid-19.