4/4/2021, 2:27 PM (Source: TeleTrader)
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France, EU reach deal on Air France refinancing package

French Economy and Finance Minister Bruno Le Maire (pictured) unveiled on Sunday that the country has reached an agreement with the European Union on a refinancing package to support Air France-KLM's recovery from the coronavirus-caused crisis.

"It has been a long and difficult negotiation but I think we have reached a good deal with Margrethe Vestager," the minister told LCI TV, without disclosing the amount of the state loan.

Previously, the airline received €10.4 billion in state loans in 2020. The company's board of directors is expected to meet on Monday to approve the package.

Baha Breaking News (BBN) / GA