Air France to get USD 7.6-billion government aid package
Apr 25, 2020, 01:04 IST
Paris, Apr 24 (AP) The French government announced a "historic" 7-billion-euro (USD 7.6-billion) aid package Friday to rescue Air France, whose planes have been largely grounded by virus lockdowns around the world.
Speaking on national television TF1, Finance Minister Bruno Le Maire pledged 4 billion euros of loan guarantees and 3 billion euros of direct loans to "save our national airline."
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In exchange for the bailout, Le Maire said the government would set conditions of profitability and more environmentally sustainable, less polluting policies.
He said the government is not currently considering nationalizing Air France.
The government is also considering a 5-billion-euro loan guarantee for carmaker Renault, Le Maire said.
The Dutch government also was expected to announce an aid package for Air France's Dutch partner carrier, KLM. (AP) INDIND(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)