(CercleFinance.com) – Air France-KLM announces that it has entered into exclusive discussions with Apollo Global Management with a view to financing 1.5 billion euros in the capital of a subsidiary holding contracts with the commercial partners of the loyalty.
Under this agreement, Apollo would subscribe to perpetual bonds issued by this operating subsidiary. This financing, accounted for as equity under IFRS, would allow the air carrier to strengthen its balance sheet.
The Franco-Dutch group would retain the operational management of the loyalty program and the proposed structure would not lead to any change in its operation for Flying Blue members, nor any social impact.
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