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Air France

A tale of two airlines
Opinion

A tale of two airlines

This is apropos a Business Recorder’s editorial on Pakistan International Airlines’ woes carried by the ...
Published 28 Feb, 2022 06:44am
France to become biggest Air France shareholder with capital hike
Business & Finance

France to become biggest Air France shareholder with capital hike

  • The French government will convert a 3 billion euro loan extended to the group last year into a hybrid instrument and commit up to an additional 1 billion euros to a planned share issue, raising its stake in Air France-KLM to almost 30%.
  • "This will make the state Air France's biggest shareholder," French Finance Minister Bruno Le Maire said on France Inter radio, calling the move a "sign of commitment" to the airline and its French jobs.
Published 06 Apr, 2021 12:14pm
Air France-KLM poised to announce refinancing steps
Business & Finance

Air France-KLM poised to announce refinancing steps

  • Air France-KLM is expected to convert part of its 4 billion euros ($4.7 billion) in direct government loans into hybrid instruments and raise new equity capital under the plans to be announced by Tuesday morning, the sources told Reuters.
  • After drawn-out talks with Brussels over the number of take-off and landing slots at Paris-Orly airport to be given up by Air France in return for renewed aid, France's finance minister said on Sunday a compromise agreement had been reached.
Published 05 Apr, 2021 09:16pm
Air France refinancing step expected in days, minister says
Business & Finance

Air France refinancing step expected in days, minister says

  • The airline group, which received a 10.4 billion-euro ($12.3 billion) bailout to weather the coronavirus crisis last year, plans to convert 4 billion euros in French and Dutch government loans into hybrid "quasi-equity".
  • "We are nearing a deal," Finance Minister Bruno Le Maire said on France Info radio, predicting a final agreement within "a matter of days".
Published 29 Mar, 2021 08:24pm
Paris, EU near deal on Air France bailout conditions: report
Business & Finance

Paris, EU near deal on Air France bailout conditions: report

  • The expected deal would see Air France give up fewer airport flight slots at its Paris base than initially sought by the European Commission, notably at Orly airport, the newspaper said in a report published late on Friday.
  • The Air France-KLM group recorded a 7.1 billion euro ($8.38 billion) net loss for last year.
Published 27 Mar, 2021 05:47pm
KLM gets 3.4bn euro Dutch bailout
Business & Finance

KLM gets 3.4bn euro Dutch bailout

  • The aid consists of a guarantee for bank loans of up to 2.4 billion euros and a direct loan from the state of up to one billion euros.
  • "These loans will enable KLM to weather the current COVID-19 crisis and prepare for the future," it said.
Published 26 Jun, 2020 05:42pm