PARIS (Reuters) – The French authorities will proceed giving robust help to the air transport business all through the COVID-19 pandemic, Finance Minister Bruno Le Maire stated on Wednesday.
“We are going to proceed to help massively and durably the French air transport sector, the small- and medium-sized corporations that work within the business, the aerospace business, Airbus, and your entire French business ” Le Maire instructed the French Senate.
On Tuesday, France introduced plans to contribute to a 4 billion euro ($4.8 billion) recapitalisation of Air France-KLM and greater than double its stake within the airline to almost 30%.
Below the EU-approved phrases, Air France will hand over 18 Paris-Orly take-off and touchdown slots to opponents, amounting to 4% of its present portfolio on the airport.
Le Maire stated the federal government would guarantee that no firm working towards “social dumping” – reducing employees pay and advantages as a lot as doable – would get entry to those slots.
He additionally stated the federal government will help the business whereas attempting to decarbonise air journey, notably by supporting tasks for a zero-carbon hydrogen-fueled airplane.
He added that the federal government desires to cut back using airplanes when doable and stated Air France has been requested to scrap all connections to cities the place there may be another by practice that takes lower than 2-1/2 hours.
Le Maire additionally stated Air France is not going to take a stake in Reunion island’s Air Austral however he stated the state will defend Air Austral with a 30 million euro state-guaranteed mortgage.
($1 = 0.8406 euro)
Reporting by GV De Clercq and Dominique Vidalon; enhancing by Jonathan Oatis