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Air France KLM to get €10 billion from France and Netherlands

Christian Fernsby |
The Dutch government will provide up to €4 billion in emergency coronavirus aid to the KLM flagship air carrier. Its parent company, Air France KLM, will also receive €7 billion from the French government.

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The KLM aid package of up to €4 billion ($4.32 billion) will likely come as a combination of state guarantees and bank loans, Dutch Finance Minister Wopke Hoekstra said on Friday. The flagship carrier of the Netherlands has been hit hard by the coronavirus crisis and the majority of its planes remain grounded.

The announcement came shortly after Paris pledged €7 billion to Air France, KLM’s parent company.

“Air France’s planes are grounded, so we need to support Air France,” French Finance Minister Bruno Le Maire stated.

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