Airline industry: KLM gets billion loan from the Netherlands

The Dutch KLM Royal Dutch Airlines has secured a loan in the amount of 3.4 billion euros. The Board of Directors of the airline have accepted a government suppo

Airline industry: KLM gets billion loan from the Netherlands

The Dutch KLM Royal Dutch Airlines has secured a loan in the amount of 3.4 billion euros. The Board of Directors of the airline have accepted a government support package, shared with KLM on Friday. Thus, KLM wants to overcome the Corona-crisis and to prepare for the future, it said. The state aid to be added to the beginning of may announced 7 billion euros granted by the French state to Air France.

on the night, the French airline in a statement on its Website, in the sum of approximately 3.4 billion Euro had been published. This will help KLM "to overcome the crisis and prepare for the future". The office of the Dutch Minister of Finance, Wopke Hoekstra ludzu a press conference to "details of the aid package for KLM" is present. The Reuters news Agency had previously learned from insiders that the Netherlands will release the 3.4 billion euros in loan guarantees and direct loans for KLM.

The governments in Paris and The Hague each have about 14 percent of Air France-KLM. In April they had given French state AIDS in the amount of 7 billion Euro. In addition, the speech was that the Netherlands would be expected to contribute 2 to 4 billion. France rejected the claim of the Netherlands to a representative on the Board so far, but because it would weaken the position of power from Paris to the Dutch subsidiary. Now a Trustee with no voting should be sent to the Board, to ensure that Dutch tax money coming exclusively to the KLM benefit, it was said in the circles.France and the Netherlands argue for a long time about the Management and strategy of the airline, which was established in 2004 from the merger of the two national Airlines.

Updated Date: 26 June 2020, 08:20

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