France Expects to Give Massive Support to Air France-KLM

William Horobin

(Bloomberg) -- France is preparing massive support for its flagship carrier Air France as the coronavirus oubreak paralyzes the airline industry, the country’s Finance Minister Bruno Le Maire said.

Air France-KLM, the Franco-Dutch parent of the airline, is already in negotiations with the government over state loan guarantees of about 6 billion euros ($6.52 billion). France and the Netherlands are Air France-KLM’s biggest shareholders.

“Air France is losing billions of euros a month” Le Maire said on France 2 television. “It’s not a helping hand that Air France will need, it’s massive support from the state. Air France will have this massive support from the state as we want to preserve this airline at any cost.”

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