France has earmarked a total of EUR 15 billion in aid to the aviation industry, which has been hit hard by the corona crisis. This was announced in a radio interview by French Deputy Minister of Transport Jean-Baptiste Djebbari. Extensions for wage subsidies and part-time work measures are also included in the package. The package also includes a fund to make air travel less polluting.
The aid package is intended to save aircraft manufacturer Airbus, engine manufacturer Safran and defense group Thales, among others. These companies see orders drying up in connection with the coronavirus. For example, Airbus can expect a 40 percent drop in sales over the next two years, Djebbari said. Loan guarantees are also covered. Aviation company Air France-KLM, among others, uses this aid.
The minister previously expressed the expectation that jobs will be lost, despite the support package. The sector employs approximately 300,000 employees and generates an annual income of 58 billion euros.
The aviation sector plan is part of a series of stimulus packages worth around € 40 billion. For example, Paris also frees up money for tourism and the car industry.