Air France-KLM: Brussels approves support for KLM
(CercleFinance.com) - On Monday the European Commission gave its approval to the Dutch plan to provide urgent cash support of 3.
4 billion euros to KLM, the Dutch airline of the Air France-KLM group.
"The Netherlands imposed certain conditions on the aid measure with respect to profit allocation, working conditions and sustainability. Very good" Margrethe Vestager, Executive Vice-President in charge of competition policy, welcomes in a statement.
The Commission concluded that the measure in question would help the Netherlands to manage the economic impact of the coronavirus pandemic and that it was "necessary, appropriate and proportionate".
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