Air France-KLM announced late Friday that it had repaid 75% of the recapitalization aid granted by the French state during the pandemic, freeing the airline from various restrictions imposed by the European Commission, according to a press release. .
The French-Dutch group received 3.6 billion euros in recapitalization aid from the French state, including 3 billion in direct loans converted into perpetual hybrid bonds, and 600 million euros in shares issued as a result of a capital increase.
The direct loan was “combined with several limitations”, recalls the company, which in particular had to respect the prohibitions imposed by the European Commission in the framework of state aid, such as the impossibility of taking more than 10% of the capital of a competing company .
EMP refunded
In 2022, Air France-KLM had already “reimbursed 2.4 billion euros of these 3 billion euros,” he says.
The company announced on Friday “to have repaid 300 million euros of perpetual French government bonds, thus exceeding the 75% threshold for the repayment of recapitalization aid granted during the Covid-19 crisis.”
“As announced during the presentation of the group’s annual results for 2022, Air France-KLM and Air France intend to fully exit the recapitalization aid and associated restrictions as of April 19, 2023,” according to the press release.
Air France-KLM also announced on Wednesday that it had finished repaying bank loans guaranteed by the French state, granted to help it overcome the Covid-19 crisis, or 2.5 billion euros.
The Franco-Dutch airline group returned to profit in 2022 after two years of abysmal losses due to the health crisis.
Source: BFM TV
