Dutch not looking to break up Air France KLM - finance minister
Reuters
Published May 06, 2020 12:33
Updated May 06, 2020 13:10
AMSTERDAM (Reuters) - The Dutch government is not looking to break up the Air France KLM (PA:AIRF) partnership as part of an emergency aid package, Finance Minister Wopke Hoekstra said on Wednesday.
Hoekstra's comments were made during discussions in parliament about the details of 2-4 billion euros ($2.2-4.3 billion) in state support for the Dutch subsidiary of the airline.
Air France KLM has run into financial trouble due to the coronavirus pandemic and resulting lockdowns. The French state is preparing 7 billion euros in support for Air France.
KLM has enough liquidity to meet its financial obligations through mid-June, Hoekstra said, adding that it will take months to work out the details.
The government is sticking to its demand that conditions are attached to the financial support, which will be a combination of loans and guarantees.
"The best way forward that we have with each other, the French government and the Dutch government, is to make a success of the marriage," Hoekstra said.
"At the same time ... the necessary things have to happen to guarantee that success," he said, referring to conditions on costs and governance.
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Written By: Reuters
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