France Will Proceed Huge Help for Air Transport Sector: Finance Minister
“We’ll proceed to help massively and durably the French air transport sector, the small- and medium-sized firms that work within the trade, the aerospace trade, Airbus, and your complete French trade ” Le Maire advised the French Senate.
On Tuesday, France introduced plans to contribute to a 4 billion euro ($4.8 billion) recapitalisation of Air France-KLM and greater than double its stake within the airline to almost 30%.
Beneath the EU-approved phrases, Air France will hand over 18 Paris-Orly take-off and touchdown slots to opponents, amounting to 4% of its present portfolio on the airport.
Le Maire mentioned the federal government would ensure that no firm training “social dumping” – reducing workers pay and advantages as a lot as attainable – would get entry to those slots.
He additionally mentioned the federal government will help the trade whereas making an attempt to decarbonise air journey, notably by supporting initiatives for a zero-carbon hydrogen-fueled airplane.
He added that the federal government needs to scale back the usage of airplanes when attainable and mentioned Air France has been requested to scrap all connections to cities the place there may be an alternate by practice that takes lower than 2-1/2 hours.
Le Maire additionally mentioned Air France is not going to take a stake in Reunion island’s Air Austral however he mentioned the state will defend Air Austral with a 30 million euro state-guaranteed mortgage.
(Reporting by GV De Clercq and Dominique Vidalon; enhancing by Jonathan Oatis)