Air France – KLM first in line for emergency credit

In Corporate
March 21, 2020
A

Air France-KLM and aircraft manufacturer Airbus are at the front of the queue with the French government to receive special emergency credits for getting through the corona crisis. Airbus is also said to have approached the German government for help. Bloomberg news agency reports this on the basis of insiders.

Aviation is one of the hardest hit sectors due to the outbreak of the new corona virus. Numerous countries have imposed travel restrictions and no-fly time, which means that flights can be flown less and demand for tickets has dried up considerably.

In the Netherlands, KLM also uses government support measures. As a result, the airline does not have to make use of a reduction in working hours for its personnel for the time being, and KLM employees can at least continue to pay wages in the coming months.

By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com

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