EU authorizes financial support from France to Air France
The aid that will be for 7,000 million euros will allow the airlito face the economic consequences caused by the pandemic
On Monday Brussels has granted public aid provided by France for a value of 7,000 million euros to the airline Air France in order to face the economic consequences caused by the pandemic.
Financial assistance refers to a state guarantee for shareholder loans in favor of the company, all with the main priority of offering Air France “urgent liquidity support” as expressed by the European Union in a statement.
“This guarantee and this 7,000 million euro money loan agreed by France will provide Air France with the liquidity it urgently needs to resist the repercussions of the pandemic,” explained the European Commissioner for Competition, Margrethe Vestager. , quoted in a statement.
Vestager has insisted that “Air France is also playing an essential role in the repatriation of citizens and in the transport of medical equipment“, stressing that the efforts of the Commission and of the Member States could speed up subsidies to face the effects of the pandemic.
Currently, Air France has a fleet of more than 300 aircraft, although it had to assume a drastic pattern as a consequence of the confinement measures imposed by France.
K.Villarroel
Source: Finanzasdigital
