The European Commission approves the aid of 7,000 million euros to Air France

In late April, it was reported that the Air France-KLM group, to which the company belongs, will receive nearly $ 11 billion from France and the Netherlands.

The European Commission has approved on Monday the loan guarantees of 7,000 million euros (7,666 million dollars), according to a statement from the agency.

The measure is detailed as being proposed by Paris after “all other potential means of obtaining liquidity in the markets have been explored and exhausted.” The commission’s executive vice president, Margrethe Vestager, commented that the measure shows the importance of aviation for the European Union.

“This French € 7 billion guarantee and the shareholder loan will provide Air France with the liquidity it urgently needs to withstand the impact of the coronavirus outbreak,” said Vestager.

In late April, it was reported that the Air France-KLM group, to which the company belongs, will receive nearly $ 11 billion from France and the Netherlands.

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