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4/24/2020, 8:21 PM (Source: TeleTrader)
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French govt to support Air France with €7B

French Finance Minister Bruno Le Maire announced on Friday the government will support domestic flag carrier Air France and is working on providing help for carmaker Groupe Renault, so the two companies could overcome their financial troubles caused by the coronavirus.

Le Maire said Air France will receive €7 billion from the government, while Renault is likely to be given around €5 billion in an effort to mitigate the crisis' effects.

These grants are a part of the country's coronavirus relief package which amounts to €110 billion, as revealed by Prime Minister Edouard Philippe last week.

Breaking the News / ND