France readying multi-billion euro loans for Air France, Renault
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A 7 billion euro package is planned for Air France.
PHOTO: REUTERS
PARIS (AFP) - France is readying a historic package of multi-billion euro loans to help carmaker Renault and flag-carrier Air France through the crisis caused by the coronavirus, Finance Minister Bruno Le Maire said on Friday (April 24).
For Air France, a 7 billion euro (S$11 billion) package is planned, made up of 4 billion euros in bank loans guaranteed by the state and a 3 billion euro loan direct from the state, he told TF1 television.
For Renault, a 5 billion euro bank loan package guaranteed by the state is being worked on, he said.
The French state retains shareholdings in both Renault and Air France.
