Air France-KLM in talks on US$7 billion cash raise: Le Monde

PARIS: Air France-KLM is discussing plans to raise another €6 billion (US$7.1 billion) from its two government shareholders and other investors, French newspaper Le Monde reported on Tuesday.

The airline group, which received €10.4 billion in state-backed bailouts earlier this year, may soon receive another €4 billion from the governments, combining a capital injection and hybrid debt, the paper reported.

It would then aim to raise a further €2 billion from investors later in the first quarter of 2021, according to the report, which cited anonymous sources.

Air France-KLM had no comment, a spokesman said.

When unveiling its first €7 billion French loan package in April, Air France-KLM outlined plans for a capital increase before its 2021 shareholder meeting. The French and Dutch states each own about 14 per cent of the group.

French Finance Minister Bruno Le Maire has also reiterated in recent days that the government stands ready to offer the airline more aid. A ministry spokesman declined further comment.




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