DBEA55AED16C0C92252A6554BC1553B2 Clicky DBEA55AED16C0C92252A6554BC1553B2 Clicky
April 23, 2024
Care to share?

The European Union’s General Court of Justice has annulled the French state aid package provided to Air France in 2020 and 2021. In a complaint filed by Ryanair and its subsidiary Malta Air, the General Court said on Wednesday that it can’t be ruled out that not just Air France, but also KLM and the holding Air France-KLM have benefitted from the French aid under the EU Temporary Framework. The European Commission can appeal today’s ruling. 

In April 2020, weeks after the first wave of Covid paralyzed the airline industry, the French government announced that it would guarantee 90 percent of a €4.0 billion loan that was provided by a consortium of banks, plus €3.0 billion as a shareholder loan. At the time, the French State owned 14.3 percent of Air France. The package was approved by the European Commission in May, as it qualified for the Temporary Framework for state aid measures to support companies during the pandemic.

 


Subscriber content – Sign in

Subscribe

 

 

author avatar
Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.