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European Union approves $4.7 billion in state aid to carrier Air France

The European Union has approved USD 4.7 billion in government aid for national carrier Air France as it struggles through the economic impact of the COVID-19 pandemic.

Topics
European Union | Air France | Aviation industry

AP  |  Brussels 

Wikipedia
Air France

The has approved USD 4.7 billion in government aid for national carrier as it struggles through the economic impact of the COVID-19 pandemic.

In return for the aid, the carrier has promised to make slots available to competitors at the busy Orly airport in Paris.

The public support will come with strings attached, said EU Commission Vice President Margrethe Vestager.

Last year, got 3 billion euros in direct loans from the French state as part of a recapitalisation of up to 4 billion euros.

The French government, the airline's largest single shareholder, has said it was essential to save the national carrier but it is not considering nationalizing

In exchange for the bailout, the government set conditions of profitability and more environmentally sustainable, less polluting policies.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, April 06 2021. 13:44 IST
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