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Air France-KLM has 6 billion euros in cash, will need state support soon

4/7/2020 3:30:00 AM

Air France - KLM has 6 billion euros in cash, will need state support soon

Air France-KLM executives have been in talks with the two states, each owns 14 percent of Air France-KLM, to discuss what form this state support could take, Rigail said. "The discussions are ongoing...The group has some 6 billion euros of cash, but we will need financial support soon," she added in an interview published on Monday, declining to comment further to the newspaper.

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Air France-KLM was not immediately available for comment outside normal business hours.Air France-KLM is in talks with banks to receive up to 6 billion euros ($6.5 billion) in loans guaranteed by the French and Dutch governments, as the airline group braces for a sustained coronavirus shutdown, sources told Reuters last week.

Both airlines have slashed flights by more than 90 percent and reined in costs with the help of government-funded furloughs. Read more: ABS-CBN News »

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