France nears 1-billion-euro crisis fund for aero suppliers: sources

French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wednesday.

The scheme mirrors government-backed plans in France to help the automobile sector and comes as the aerospace industry seeks funding to help suppliers to overcome the coronavirus crisis.Aircraft production has virtually halted since the pandemic shut down most travel, and many suppliers urgently need cash.

Under current proposals, four companies - planemakers Airbus and Dassault Aviation, engine maker Safran and avionics firm Thales would contribute a fifth of the fund's 1-billion-euro target, the sources said.AdvertisementOne lawmaker said the fund could hold 1 billion euros , but that negotiations were ongoing.

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