Air France-KLM’s $3.8 Billion Dutch Aid Comes With Strings
- Decision ends weeks of debate over funding from Netherlands
- Loans come on top of French government’s support package
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Air France-KLM’s Dutch arm will get a 3.4-billion-euro ($3.8 billion) bailout from the Netherlands, bringing the group’s state-aid total to 10.4 billion euros and tying the struggling carrier to wide-ranging operational and environmental constraints.
KLM will receive 2.4 billion euros of state-backed commercial funding and 1 billion euros in direct government loans, Dutch Finance Minister Wopke Hoekstra said in a letter to parliament Friday that came after weeks of wrangling over the terms of the funding needed to ride out the coronavirus crisis.