Deal, European Union

Deal, European Union

France, EU close to a deal on Air France bailout: minister

France, EU close to a deal on Air France bailout: minister

29/3/2021 12:40:00 PM

France, EU close to a deal on Air France bailout: minister

France and the European Union are close to a deal on a bailout for Air France, which like other carriers has been hammered by the coronavirus ...

BusinessFrance and the European Union are close to a deal on a bailout for Air France, which like other carriers has been hammered by the coronavirus pandemic, Finance Minister Bruno Le Maire said on Monday, confirming media reports.FILE PHOTO: The first Air France airliner Airbus A350 prepares to take off after a ceremony at the aircraft builder's headquarters in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis Duvignau

Tighter COVID-19 measures important as Singapore is on a 'knife’s edge': Lawrence Wong Alleged racist attack: Racism, xenophobia will become normalised if Singapore is not careful, warns Shanmugam 25 new Covid-19 infections in Singapore, including 7 linked to Changi Airport T3 cleaner

29 Mar 2021 05:05PMShare this contentBookmarkPARIS: France and the European Union are close to a deal on a bailout for Air France, which like other carriers has been hammered by the coronavirus pandemic, Finance Minister Bruno Le Maire said on Monday, confirming media reports.

"We are nearing a deal...It is a matter days," Le Maire told France Info radio, adding there could be concessions to ensure fair competition.AdvertisementAdvertisement"It's not about closing lines or cutting jobs. Concessions are being asked to ensure fair competition between Air France and other carriers," Le Maire said without providing further details. headtopics.com

On Friday French daily Le Monde said the French government and the European Union's executive were close to an agreement on the terms of a bailout for Air France.The expected deal would see Air France give up fewer airport flight slots at its Paris base than initially sought by the European Commission, notably at Orly airport, the newspaper had said.

The Air France-KLM group recorded a 7.1 billion euro (US$8.38 billion) net loss for last year.AdvertisementAdvertisementIt received 10.4 billion euros in loans and guarantees from France and the Netherlands and has been negotiating a state-backed recapitalisation, with EU regulators seeking airport slot concessions at Paris-Orly and Amsterdam-Schiphol.

(Reporting by Dominique Vidalon; Editing by Alex Richardson and Louise Heavens) Read more: CNA »

Singapore sees ‘several important lessons’ from Tan Tock Seng Hospital COVID-19 cluster

SINGAPORE: Singapore has learnt 'several important lessons' from the COVID-19 cluster at Tan Tock Seng Hospital (TTSH), among them - that the ...

France, Brussels have agreed on Air France-KLM refinancing - ministerThe French government has reached the outline of a deal with the European Commission on a state-backed refinancing package to help strengthen Air ...

Paris, EU near deal on Air France bailout conditions: reportThe French government and the European Union 's executive are close to an agreement on the terms of a bailout for Air France, which like other ... money for big airlines, no money for reparations for centuries of violent colonization

European countries tighten COVID-19 curbs, France 'critical'France, Belgium and Poland on Saturday tightened curbs as coronavirus cases surged in Europe while the Philippines prepared for a giant lockdown ...

French state could become biggest shareholder in Air France: ministerThe French state will be able to raise its shareholding in Air France to nearly 30per cent and become its biggest shareholder under a state-backed ...

Capital hike brings Air France under government's wingPARIS: France will contribute up to €4 billion (US$4.7 billion) to a recapitalisation of Air France-KLM and more than double its stake in the ...