FILE PHOTO: Air France planes seen on the tarmac at Paris Charles de Gaulle airport, March 24, 2020. REUTERS/Charles Platiau/File Photo
PARIS (Reuters) – Air France KLM (AIRF.PA) has requested several billion euros of emergency funds from the French state while it negotiates a loan package from banks, which would be guaranteed by France and the Netherlands, French business daily Les Echos reported.
The airline has asked for an immediate state cash injection to meet its needs for the next four to five months, the paper said, with air travel paralysed by the coronavirus shutdown.
Air France KLM and the French finance ministry declined to comment.
Negotiations with the banks over loans to tide it over for the next 12 to 18 months are taking longer than expected, Les Echos reported, adding that neither Air France KLM, nor the banks, were satisfied with the level of guarantee that France provides of 75%, which compares to a 90% backup by the Netherlands.
Sources previously told…
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