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In Money Matters

Guaranteed billion-dollar loan to save Air France-KLM in progress

4th April 2020 Matthew Patridge

Guaranteed billion-dollar loan to save Air France-KLM in progress Pin It

Air France-KLM is in talks with banks about up to 6 billion euros in loans, guaranteed by the French and Dutch governments. Anonymous sources report this on Friday.

Details and exact amounts are still unclear and may change, the sources said.

Under the most likely scenario, Air France would receive a loan of EUR 4 billion guaranteed by the French State. KLM will then take out a loan of 2 billion euros, supported by the Dutch government.

Spokesmen for both governments could not respond, but it soon became clear that both France and the Netherlands want to support the airline.

Finance Minister Wopke Hoekstra said earlier that there were talks with society and the French government.

Air France-KLM suffers greatly from the coronavirus outbreak and the measures taken by governments to control its spread. The group had to cancel the majority of the flights.

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