Air France-KLM Group to receive €10 billion

The Air France-KLM Group, one of the biggest airline groups in Europe, will be receiving around 10 billion euros from the French and Dutch governments which will help the company survive the coronavirus crisis. The money will also be invested in helping the airline group recover as well as financing a part of the Air France restructuring project.

Despite the fact that negotiations with the respective states and banks have not yet been completed, the distribution of the roughly 10 billion euros has indeed come to light. Air France is reportedly negotiating an amount of around 7 billion euros whilst it’s dutch counterpart KLM will receive between 3 and 3.5 billion euros.

Air France B777-300ER taxiing in Los Angeles International Airport. Photo by Cole McAndrew | AeroNewsX

Additionally, Pieter Elbers, KLM’s president and CEO, announced that he would be reducing his own salary by 20% until the end of 2020 in an attempt to further improve the airline’s situation during this unprecedented crisis. KLM’s Board of Managing Directors won’t see their fixed salaries increased this year either.

KLM B777-300ER in Atlanta Airport. Photo by Matt Lino | AeroNewsX

The Air France-KLM group has been operating a reduced schedule to help people get back to their home countries and aid all of those who have to travel for reasons which cannot be postponed. Most recently, the airline group filed new flights to Northern Europe from its hubs in Paris and Amsterdam. With the update, the company will now be connecting Copenhagen, Stockholm, Oslo, Billund and Gothenburg to at least one of their two hubs.

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