5/20/2020, 11:45 AM (Source: TeleTrader)
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Dutch govt's purchase of Air France-KLM stocks 'irregular' - court

Netherlands’ Court of Audit ruled on Wednesday the purchase of a 14% stake in Air France-KLM by the Dutch government in 2019 was against the country's laws.

As the government hadn't informed the parliament about the move, the court decided to proceed with this ruling explaining ministers "must inform parliament of such transactions in advance" and not just inform it afterward. Therefore, the court stated the transaction was "irregular."

Meanwhile, the Dutch government is planning to give up to €4 billion to the French company to help it recover from the coronavirus crisis.

Baha Breaking News (BBN) / ND