The European Commission on Tuesday approved a plan by the French state to grant up to 4 billion euros in aid to Air France, to recapitalize the airline brought down by the pandemic and the collapse in passenger traffic.
Read also: Air France wants to vaccinate its employees in a forced march
The recapitalization of Air France provides for "
the conversion of the State loan of 3 billion euros already granted by France into a hybrid capital instrument
" as well as a "
capital injection by the State
" via an increase of capital "
open to existing shareholders and to the market
", within the limit of one billion euros, the European Commission said in a press release.
According to figures published the same day, Air France-KLM forecasts an operating loss of 1.3 billion euros in the first quarter of 2021.
Invited to the microphone of France Inter this Tuesday morning, the Minister of the Economy Bruno Le Maire indicated that the State will be able to rise "
to a little less than 30%
" of the capital of Air France.
He also recalled the state's demands on Air France: the first consideration requested is the continuation of the savings plan announced by the boss of the firm, Ben Smith.
The second is a "
50% reduction in emissions per passenger by 2030
," Bruno Le Maire recalled.
Air France must become the most respectful airline on the planet.
"Air France will also have to cede 18 flight slots to other airlines," said the minister.
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