The French government announced a €7 billion ($7.6 billion) aid package Friday to rescue Air France-KLM, whose planes have been largely grounded by Covid-19-enforced lockdowns around the world.
Speaking on national television TF1, Finance Minister Bruno Le Maire pledged €4 billion of loan guarantees and €3 billion of direct loans to “save our national airline”.
He described the deal as "historic".
In exchange for the bailout, Le Maire said the government would set conditions of profitability and more environmentally sustainable, less polluting policies.
He said the government is not currently considering nationalising Air France.
The government is also considering a €5 billion loan guarantee for carmaker Renault, Le Maire said.
The Dutch government was also expected to announce an aid package for Air France’s Dutch partner carrier, KLM.
(FRANCE 24 with AP)
