EU Re-Approves $11.25 Billion Aid Package for Air France-KLM

The European Commission has re-approved a 10.4 billion euro ($11.25 billion) aid package for Air France-KLM. The aid was initially approved in 2020 but annulled after Ryanair's complaint. Following a re-assessment, the Commission determined the measures comply with the COVID Temporary Framework or directly with the Treaty.


Devdiscourse News Desk | Brussels | Updated: 10-07-2024 15:23 IST | Created: 10-07-2024 15:23 IST
EU Re-Approves $11.25 Billion Aid Package for Air France-KLM
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The European Commission has re-approved a 10.4 billion euro ($11.25 billion) aid package aimed at providing liquidity support to Air France-KLM during the COVID-19 pandemic. This decision was announced on Wednesday.

Initially approved in 2020, the aid measures were subsequently annulled twice following complaints by Ryanair. After a thorough re-assessment, the Commission concluded that the aid measures are compatible with the COVID Temporary Framework or directly with the Treaty.

The European Union clarified in a statement that the Air France-KLM Group remains the beneficiary of both the French and Dutch aid measures. The decision ensures that the airline can continue operating amid ongoing financial challenges. (Conversion rate: $1 = 0.9243 euros)

(Disclaimer: With inputs from agencies.)

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