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Air France-KLM Discussing Plans To Raise Additional €6bn

Published on Nov 18 2020 12:57 PM in General Industry tagged: Air France-KLM

Air France-KLM Discussing Plans To Raise Additional €6bn

Air France-KLM is discussing plans to raise another €6 billion from its two government shareholders and other investors, French newspaper Le Monde has reported.

The airline group, which received €10.4 billion in state-backed bailouts earlier this year, may soon receive another €4 billion from the governments, combining a capital injection and hybrid debt, the paper reported.

It would then aim to raise a further €2 billion from investors later in the first quarter of 2021, according to the report, which cited anonymous sources.

Air France-KLM had no comment, a spokesman said.

When unveiling its first €7 billion French loan package in April, Air France-KLM outlined plans for a capital increase before its 2021 shareholder meeting. The French and Dutch states each own approximately 14% of the group.

Standing Ready To Offer More Aid

French finance minister Bruno Le Maire has also reiterated in recent days that the government stands ready to offer the airline more aid. A ministry spokesman declined further comment.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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