Air France-KLM: EU approves aid from Netherlands & France
(CercleFinance.com) - The European Commission announces that it has approved Dutch and French support measures worth E10.
4bn for the Air France-KLM group, after the Court of First Instance annulled the initial authorizations.
The measures in question include guarantees on bank loans and state loans, designed to remedy the economic disruption caused by the COVID-19 pandemic.
In concrete terms, the French aid consists of a loan guarantee of E4bn and a loan of E3bn, while the Dutch aid includes a loan guarantee of E2.4bn and a loan of E1bn.
The Commission reassessed these measures as compliant with EU rules and the COVID temporary framework, underlining their necessity and proportionality and concluding that these measures were essential to manage the economic impact of the pandemic in France and the Netherlands.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
4bn for the Air France-KLM group, after the Court of First Instance annulled the initial authorizations.
The measures in question include guarantees on bank loans and state loans, designed to remedy the economic disruption caused by the COVID-19 pandemic.
In concrete terms, the French aid consists of a loan guarantee of E4bn and a loan of E3bn, while the Dutch aid includes a loan guarantee of E2.4bn and a loan of E1bn.
The Commission reassessed these measures as compliant with EU rules and the COVID temporary framework, underlining their necessity and proportionality and concluding that these measures were essential to manage the economic impact of the pandemic in France and the Netherlands.
Copyright (c) 2024 CercleFinance.com. All rights reserved.