Air France-KLM to Benefit from Recapitalisation Plan

Air France-KLM is set to get as much as €4bn in recapitalisation plan

Air France-KLM is set to receive as much as €4 billion and the French government could raise its stake to as high as 30 per cent as part of a recapitalisation plan.

According to a statement on Tuesday from the European Commission, Air France will get up to €1 billion in fresh capital as part of a shareholder subscription, and convert a previous €3 billion French loan into hybrid instruments.

In exchange Air France will have to give up 18 daily slots at Orly airport outside Paris.