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PARIS, April 7 (Reuters) – The French authorities will proceed giving robust assist to the air transport trade all through the COVID-19 pandemic, Finance Minister Bruno Le Maire mentioned on Wednesday.
“We are going to proceed to assist 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 Four billion euro ($4.eight billion) recapitalisation of Air France-KLM AIRF.PA and greater than double its stake within the airline to just about 30%.
Underneath 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 guarantee that no firm practising “social dumping” – reducing workers pay and advantages as a lot as potential – would get entry to those slots.
He additionally mentioned the federal government will assist the trade whereas attempting to decarbonise air journey, notably by supporting initiatives for a zero-carbon hydrogen-fueled airplane.
He added that the federal government needs to cut back using airplanes when potential and mentioned Air France has been requested to scrap all connections to cities the place there’s another by practice that takes lower than 2-1/2 hours.
Le Maire additionally mentioned Air France won’t 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.
($1 = 0.8406 euro)
(Reporting by GV De Clercq and Dominique Vidalon; modifying by Jonathan Oatis)
(([email protected]; +33 1 4949 5343; Reuters Messaging: Twitter: @gvdeclercq))
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