The French government has set aside 20 billion euros for large companies such as Air France-KLM, should they run into financial difficulties. That announced Finance Minister Bruno Le Maire Friday.
The € 20 billion is part of a package of measures worth € 100 billion. Parliament will have to approve the amount for the "French champions", as the government calls the companies the money is for, next Wednesday.
Air France-KLM is one of the companies that may knock on the door for support. "We are ready for the moment, which will undoubtedly come soon, on which we must support Air France," said Le Maire on the radio.
For the time being, large companies seem to be holding off the boat. According to Reuters , Air France-KLM is in talks with banks about a loan of up to 6 billion euros. Renault, which is 15 percent state-owned, is also seeking refuge with banks instead of the state.
Companies in which the French state has no interest can also turn to capital injection.
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