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4/27/2020, 12:47 PM (Source: TeleTrader)
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European airlines jump on relief hopes

Shares of Air France–KLM and Lufthansa pushed higher on Monday as investors monitor news of government relief for airlines battered by the coronavirus pandemic.

Air France–KLM is poised to receive €11 billion in aid from the French and Dutch governments. Meanwhile, the German government is still deliberating on financial aid for its flag carrier. Faced with bankruptcy amid the global health crisis, US airlines were granted another $9.5 billion, for a total of $12.4 billion in federal aid.

Air France–KLM gained 4.28% to €4.65 per share at 12:25 pm CET, while Lufthansa soared 9.81% to €7.88 a share.

Breaking the News / JC