(CercleFinance.com) – The European Commission announces that it has authorized a French aid measure of a maximum amount of 1.4 billion euros in favor of Air France, considering that it complies with EU rules on state aid.
This measure aims to compensate the airline for damage suffered between March 17 and June 30, 2020 due to the coronavirus pandemic and the travel restrictions put in place to limit the spread of the virus.
This measure follows (i) cash support in the amount of €7 billion for Air France, authorized by the Commission on May 4, 2020 and (ii) a measure in the amount of €4 billion euros aimed at recapitalizing the airline, authorized by the Commission on April 6, 2021.
The aid will be granted in several installments and may take the form of grants, equity support or cash support, says the Commission.
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