Air France: Bruno Le Maire announces an agreement with the European Commission on “new financial support”

The French Minister of the Financial system Bruno Le Maire introduced on Sunday April four that an “settlement in precept” had been reached with the European Fee on new monetary support for Air France, which is able to in return have to surrender “a sure variety of slots “at Orly airport, throughout an LCI / RTL / Le Figaro tv program. “We now have an settlement in precept with the European Commissioner (in command of Competitors) Margrethe Vestager on new monetary assist for Air France”, the quantity of which will probably be mentioned with Air France, there will probably be a board of administrators tomorrow. ‘Air France, which should validate the precept of this settlement, “stated Bruno Le Maire. “This is excellent information for Air France and for the whole French aviation sector,” stated the minister, referring to a “arduous”, “lengthy and troublesome” negotiation which finally resulted in “a great settlement” and by stressing that Air France “must make efforts to be aggressive”.

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In return for monetary assist to Air France, the European Fee requested that “we surrender 24 touchdown and take-off slots at Orly. My place from the beginning was to say that it was an excessive amount of and that it was not used for nothing to assist Air France on the one hand if it was, on the opposite, to excessively improve competitors by requesting 24 air slots on Orly, “defined the Minister. On the finish of the day, “there will probably be an abandonment of plenty of European niches, however not 24. I can’t give the determine in the present day as a result of it should first be offered to the board of administrators of Air France (…) however will probably be lower than 24 “, he assured, talking of an settlement” honest and proportionate for Air France “.

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Bruno Le Maire recalled that the French State had already “supported” Air France loads, by offering 7 billion euros and was not signing “a clean examine”. “There are tens of hundreds of jobs behind, it’s strategic for the nation. However Air France should make efforts to be aggressive” and “proceed to cut back its CO2 emissions”. “We’re not signing a clean examine (…). The taxpayers have already contributed 7 billion euros to Air France. I’m prepared to supply new assist, however that Air France returns to revenue (.. .) and gives proof of its competitiveness (…) Taxpayers are making an effort, Air France should make an effort on its facet “.