Air France posted a 7.1 billion euro ($8.4 billion) loss in 2020 as its business, like that of the rest of the world’s airlines, suffered from coronavirus restrictions which all but grounded global air traffic.
BRUSSELS – The EU approved a plan Tuesday by the French government to inject up to four billion euros into Air France, hit by a collapse in passenger traffic during the pandemic.
The agreement, worth $4.7 billion, follows weeks of negotiations with the EU commission, which must ensure that state aid does not give companies an unfair advantage.
In return for the green light, the commission, which is the EU’s anti-trust regulator, said Air France would relinquish about 18 slots per day at Orly, Paris’ second-largest airport after Charles de Gaulle.
“This gives competing carriers the chance to expand…
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