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France, Brussels have agreed on Air France-KLM refinancing 

© Reuters. Brand of Air France KLM Group is pictured on the primary Air France airliner’s Airbus A350 throughout a ceremony on the plane builder’s headquarters of Airbus in Colomiers

PARIS (Reuters) – The French authorities has reached the define of a cope with the European Fee on a state-backed refinancing package deal to assist strengthen Air France-KLM’s steadiness sheet, Finance Minister Bruno Le Maire stated on Sunday.

Le Maire, talking on LCI TV, declined to touch upon the quantity concerned.

The airline group, which final yr acquired 10.4 billion euros ($12.2 billion) in government-backed loans, has been discussing a multi-stage recapitalisation plan to lighten the ensuing debt load, sources have stated.

This may seemingly contain changing a 3 billion-euro French authorities mortgage into hybrid devices.

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