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KLM gets 3.4 bn euro Dutch bailout

KLM gets 3.4 bn euro Dutch bailout

KLM
Credit: CC0 Public Domain
The Dutch government on Friday approved a 3.4-billion-euro ($3.8-billion) bailout to prop up KLM through the coronavirus pandemic.

The aid package comes after Paris pledged seven billion euros for partner airline Air France after the outbreak brought international air travel to a near-standstill.

"The aid consists of a guarantee for of up to 2.4 billion euros and a direct loan from the state of up to one billion euros," a Dutch government statement said.

Air France-KLM said the loans would help the airline "overcome the and prepare for the future."

"These loans will enable KLM to weather the current COVID-19 crisis and prepare for the future," it said.

The Dutch government announced in April that it would give KLM an aid package of between two and four billion euros.

KLM and Air France are among a host of European airlines given state support to get through the pandemic.

Germany's Lufthansa is getting nine billion euros from Berlin to save Europe's largest airline group from bankruptcy.


Explore further

EU approves 7 bln euros in French state aid to Air France

© 2020 AFP

Citation: KLM gets 3.4 bn euro Dutch bailout (2020, June 26) retrieved 26 June 2020 from https://techxplore.com/news/2020-06-klm-bn-euro-dutch-bailout.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Original Text (This is the original text for your reference.)

KLM gets 3.4 bn euro Dutch bailout

KLM
Credit: CC0 Public Domain
The Dutch government on Friday approved a 3.4-billion-euro ($3.8-billion) bailout to prop up KLM through the coronavirus pandemic.

The aid package comes after Paris pledged seven billion euros for partner airline Air France after the outbreak brought international air travel to a near-standstill.

"The aid consists of a guarantee for of up to 2.4 billion euros and a direct loan from the state of up to one billion euros," a Dutch government statement said.

Air France-KLM said the loans would help the airline "overcome the and prepare for the future."

"These loans will enable KLM to weather the current COVID-19 crisis and prepare for the future," it said.

The Dutch government announced in April that it would give KLM an aid package of between two and four billion euros.

KLM and Air France are among a host of European airlines given state support to get through the pandemic.

Germany's Lufthansa is getting nine billion euros from Berlin to save Europe's largest airline group from bankruptcy.


Explore further

EU approves 7 bln euros in French state aid to Air France

© 2020 AFP

Citation: KLM gets 3.4 bn euro Dutch bailout (2020, June 26) retrieved 26 June 2020 from https://techxplore.com/news/2020-06-klm-bn-euro-dutch-bailout.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
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