The netherlands deliver support of 3.4 billion euros to Air France-KLM - The Point

After France, it is around the netherlands to fly to the rescue of Air France-KLM. The Dutch airline is preparing to receive an aid of € 3.4 billion, so that it

The netherlands deliver support of 3.4 billion euros to Air France-KLM - The Point

After France, it is around the netherlands to fly to the rescue of Air France-KLM. The Dutch airline is preparing to receive an aid of € 3.4 billion, so that it can straighten the head after the economic crisis in the airline industry because of the outbreak of coronavirus. Air France had already received $ 7 billion of aid from the French State.

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using the 3.4 billion euro consists of a loan of 2.4 billion provided by 11 banks, including three in the netherlands, the guaranteed 90 % by the Dutch State and a direct loan to KLM for € 1 billion. The direct loan to the State is linked to the "commitments of the company in terms of sustainable development, as well as the recovery of performance and the competitiveness of KLM, including a plan of global restructuring and the contribution of its employees," adds the group without more details.

10.4 billion in total

Air France has received 4 billion euros of bank loans guaranteed 90 % by the French State and a direct loan to the State of $ 3 billion, also in consideration of commitments to improving its efficiency and reducing its CO2 emissions. In total, the carrier of the franco-Dutch has thus benefited from 10.4 billion euros in aid, Paris and The Hague to enable him to overcome the crisis.

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France and the netherlands each have 14 % of the franco-Dutch group as the airline company Air France shape with KLM. More than 95 % of its traffic is evaporated in the second quarter in part because of movement restrictions and border closures decided upon everywhere in the world to curb the spread of the virus. And the recovery promises to be slow.

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" Thanks to the support of the Dutch and French, I am certain that the Air France-KLM group will emerge stronger than ever from this crisis ", welcomed the ceo of Air France-KLM, quoted in the press release. "In the coming period we will work to restore our network, and on the other hand, the implementation of a restructuring plan, and the demanding conditions related to this financial support ", said the director general of KLM, Pieter Elbers.

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Updated Date: 26 June 2020, 04:33

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