Air France had approached the French state requesting a bailout, following various discussions a bailout of 7 billion euros was agreed. Under EU rules, the bailout required ratification by the EU competition watchdog and this morning the watchdog paved the way for the carriers bailout.
“This €7 billion French guarantee and shareholder loan will provide Air France with the liquidity that it urgently needs to withstand the impact of the coronavirus outbreak,” the EU’s top competition official Margrethe Vestager said in a statement.
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