(CercleFinance.com) – Air France-KLM and Apollo Global Management announce the upward review and completion of quasi-equity financing of 1.5 billion euros.
Following the signing on October 26, 2023 of a definitive agreement between Air France-KLM and Apollo concerning the financing of a dedicated operational subsidiary of Air France-KLM, the companies announce today that they have finalized the transaction for a total amount revised upwards by 1.5 billion euros.
This financing by funds and entities managed by Apollo is intended for an operational subsidiary of Air France-KLM which holds the brand and most of the commercial partner contracts linked to the joint loyalty program of Air France and KLM (Flying Blue ), as well as the exclusive right to issue ‘Miles’ for airlines and their partners.
This transaction will allow the Group to restore its equity according to IFRS standards to a positive level by the end of the year.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.