Dutch state wants to guarantee billion-dollar loan for KLM
Aviation group Air France-KLM initiate talks with the banks about billions of euros in emergency loans in order to curb the effects of the corona crisis, according to news agency Reuters. KLM would like to claim 2 billion euros in financial aid while Air France 4 billion euros, and the Dutch and French states would guarantee the loans. So far, Hague sources have not confirmed or infirmed the news.
KLM planes grounded at Schiphol Airport
KLM – vital for the Dutch economy
Minister of Finances Wopke Hoekstra adds that he wants to do everything he can to keep KLM afloat and “help it in this difficult phase.” He thinks KLM is a vital company for the Dutch economy.
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The Netherlands and France each own 14 percent of the shares in the Franco-Dutch airline holding company Air France–KLM.
It became clear that the government is no longer opposed to KLM decision of cutting 2000 temporary jobs. Minister Koolmees acknowledged that the company is in a difficult situation. He and Hoekstra spoke to KLM CEO Elbers yesterday.
KLM appeals to the emergency regulation whereby the government pays a large part of the wages of companies in trouble. According to Koolmees, the company adheres to the rules. The airline says it is doing everything it can to keep its permanent staff at work.