France: possible nationalization of airlines
The French Minister of Transport, Jean-Baptiste Gebbari, said that the possible nationalization of airlines affected by the slowdown in travel, caused by the Corona epidemic, should be temporary, according to Bloomberg News today.
Gebari added to "Europe 1" radio that the nationalization of airlines represents "a technical, temporary option, but you need a project and strategy," noting that "the nationalization of a company is a short-term solution."
France and the Netherlands each own a 14% stake in Air France-KLM, which agreed to a government rescue plan with government loans and guarantees.
But as the epidemic is accelerating in Europe, uncertainty about travel and the future of airlines grows and governments may be asked to intervene again.
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