EU approves KLM’s bailout by Dutch government

epa08444543 A general view shows Air France and KLM aircrafts at Schiphol Airport, The Netherlands, 07 May 2018 (reissued 26 May 2020). The Air France-KLM Group will have their shareholders' meeting on Tuesday, 26 May 2020. EPA-EFE/ROBIN UTRECHT

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The European Commission said it had approved the 3.4 billion euros ($3.85 billion) bailout package promised by the Dutch government to airline KLM last month.

After months of wrangling with France over the role each country should play in a coronavirus rescue deal, the Netherlands said it would support the Dutch arm of Air France-KLM with 2.4 billion euros in bank loans with guarantees, and a 1 billion euro direct loan.

Reuters 

 

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