This assistance, in the form of loans, added to the $ 7 billion put on the table by France on 7 may to ensure the survival of Air France.
The european Commission authorised on Monday, the netherlands with the grant support of € 3.4 billion, to KLM to deal with the consequences of the crisis of the sars coronavirus, she announced in a press release. This assistance, in the form of loans, added to the $ 7 billion put on the table by France on 7 may to ensure the survival of Air France, with whom the air carrier Dutch form the Air France-KLM group.
READ ALSO >> For Transavia, a subsidiary of Air France-KLM, the signals are green
Those 3.4 billion euros, break down to a loan of 2.4 billion provided by 11 banks, including three in the netherlands, the guaranteed 90% by the Dutch State and a direct loan to KLM for € 1 billion.Your support is essential. Subscribe for $ 1 support Us
"This guarantee and the loan of the State (...) shall provide to KLM the cash it urgently needs to withstand the impact of the pandemic of sars coronavirus", explained the vice-president of the european Commission, Margrethe Vestager, quoted in the press release. She points out that "the netherlands has imposed certain conditions on the aid measure in respect of the distribution of benefits, working conditions and sustainability".
Second largest private employer in the netherlands
With 36 600 employees, KLM is the second largest private employer in the netherlands, reminds us of the Commission. France and the netherlands each have 14% of Air France-KLM. In total, the carrier of the franco-Dutch benefited from 10.4 billion euros in aid, Paris and The Hague to enable him to overcome the crisis.
Read our complete fileAir France-KLM: the coup de force of The netherlands Dutch State bears at 14% its share in Air France-KLM Air France-KLM: AccorHotels eyeing the part of the State
the direction of The Air France group announced on July 3 a plan to remove 6560 jobs on 41 000 (fixed-duration indeterminate full-time equivalents) in the company tricolour and 1020 positions on 2420 at Hop!, its regional subsidiary.