French government doubles share in Air France with injection of another 4 to 5 billion euros


France does not miss a chance to help Air France, the French national airline is heavily plagued by the coronavirus pandemic. Next spring, the State – which already owns 14% of the airline – will double its share and inject an additional 4 to 5 billion euros, French RTL writes.  

In July, the Air France-KLM group announced to cut 7,580 jobs at Air France and regional subsidiary Hop! in response to the COVID-19 crisis. In the third quarter of 2020, the airline group posted a loss of 1.6 billion.

At the end of April, Air France already received the historic governmental support of 7 billion euros, including 4 billion in the form of bank loans guaranteed by the State for 90% and 3 billion in advances from shareholders.

Air France had not received state aid for more than 25 years as – back in 1994 – the airline was recapitalized with 20 billion francs.



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.