BRUSSELS: The European Commission approved on Tuesday a French proposal to grant up to 4 billion euros ($4.72 billion) to recapitalise virus-hit Air France KLM in return for giving up to 18 slots per day at Paris Orly airport to a rival carrier.
The EU executive said France will have to present an exit strategy for the airline within 12 months unless it has reduced the state stake to below 25% by then.
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