The European Commission said France had demonstrated that all other potential means to obtain liquidity on the markets “have already been explored and exhausted, ” according to an emailed statement.
PARIS: Air France-KLM won European Union (EU) approval for a 7bil (US$7.65bil) French aid package consisting of a state guarantee and a subordinated shareholder loan as airlines face a collapse in revenue from the coronavirus outbreak.
The European Commission said France had demonstrated that all other potential means to obtain liquidity on the markets “have already been explored and exhausted, ” according to an emailed statement. The loan would give it “vital liquidity to face this difficult period, before an expected recovery in sales once the restrictions are lifted progressively.”
Limited time offer:
Just RM5 per month.
