July 13, 2020 / 9:06 AM / a month ago

European Commission agrees to €3.4 billion bailout of Dutch airline KLM

FILE PHOTO: KLM airline airplanes are seen parked, as Schiphol Airport reduces its flights due to the coronavirus disease (COVID-19) outbreak, in Amsterdam, Netherlands April 2, 2020. REUTERS/Piroschka van de Wouw/File Photo

AMSTERDAM (Reuters) - The European Commission on Monday said it had approved the 3.4 billion euros ($3.85 billion) bailout package promised by the Dutch government to airline KLM last month.

After months of wrangling with France over the role each country should play in a coronavirus rescue deal, the Netherlands said it would support the Dutch arm of Air France-KLM (AIRF.PA) with 2.4 billion euros in bank loans with guarantees, and a 1 billion euro direct loan.

Reporting by Bart Meijer; Editing by Toby Chopra

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below