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France and EU close to a deal on Air France bailout: minister : EU Reporter China

France and EU close to a deal on Air France bailout: minister

| March 31, 2021 | 0 Comments

By Reuters

France and the European Union are close to a deal on a bailout for Air France, which like other carriers has been hammered by the coronavirus pandemic, Finance Minister Bruno Le Maire said on Monday (29 March), confirming media reports, writes Dominique Vidalon.

“We are nearing a deal…It is a matter days,â€� Le Maire told France Info radio, adding there could be concessions to ensure fair competition.

“It’s not about closing lines or cutting jobs. Concessions are being asked to ensure fair competition between Air France and other carriers,� Le Maire said without providing further details.

French daily Le Monde said the French government and the European Union’s executive were close to an agreement on the terms of a bailout for Air France.

The expected deal would see Air France give up fewer airport flight slots at its Paris base than initially sought by the European Commission, notably at Orly airport, the newspaper had said.

The Air France-KLM group recorded a €7.1 billion ($8.38bn) net loss for last year.

It received 10.4 billion euros in loans and guarantees from France and the Netherlands and has been negotiating a state-backed recapitalisation, with EU regulators seeking airport slot concessions at Paris-Orly and Amsterdam-Schiphol.

Source:: EU Reporter Feed

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