BFF-23 EU approves 7 bln euros in French state aid to Air France

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BFF-23

VIRUS-FRANCE-AVIATION-EU

EU approves 7 bln euros in French state aid to Air France

BRUSSELS, May 4, 2020 (BSS/AFP) – The European Commission on Monday gave the green light to 7.0 billion euros ($7.7 billion) in French state aid to national carrier Air France to cushion the economic fallout from the coronavirus pandemic.

“The European Commission has approved, under EU State aid rules, a EUR7 billion French aid measure consisting of a state guarantee on loans and a shareholder loan to Air France to provide urgent liquidity to the company in the context of the coronavirus outbreak,” EU competition commissioner Margrethe Vestager said in a statement.

BSS/AFP/MMA/1305HRS