The State ready to take 29.9% of Air France-KLM to save the French company

2021-04-06T19:34:53.387Z

The group will benefit from a support plan of 4 billion, including a capital increase of 1 billion. Let Bruno Le Maire, Minister of the Economy, announce Monday morning the new Air France rescue plan to 4 billion euros. Then detail the terms of this help a little later in the day. The CEO of Air France KLM, Ben Smith, knows what he owes to the public authorities. He therefore respected the customs. After having mobilized 7 billion in April 2020 for the French company, the State, which owns 14.3%

Let Bruno Le Maire, Minister of the Economy, announce Monday morning the new Air France rescue plan to 4 billion euros.

Then detail the terms of this help a little later in the day.

The CEO of Air France KLM, Ben Smith, knows what he owes to the public authorities.

He therefore respected the customs.

After having mobilized 7 billion in April 2020 for the French company, the State, which owns 14.3% of its parent company Air France-KLM, will make a new effort: it intends to transform its loan of 3 billion to the French company in perpetual bonds considered as equity.

And participate in the capital increase of one billion euros planned by Air France-KLM.

Suddenly, the State will be able to rise to "

a little less than 30% of the capital of Air France-KLM

, said Bruno Le Maire.

This will make the State the main shareholder of the group

”.

Will this plan be enough to save Air France-KLM?

With the health crisis that is not receding, the group has seen its

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