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French state to double Air France stake, RTL radio reports

Reuters
·1-min read
FILE PHOTO: The first Air France airliner's Airbus A350 prepares to take off after a ceremony at the aircraft builder's headquarters in Colomiers near Toulouse, France

PARIS (Reuters) - The French government plans to inject 4 billion to 5 billion euros ($4.8 billion-$6.1 billion) into Air France and to double the state's 14% stake in the airline next spring, RTL radio reported on its website on Monday.

The government said last month it would continue to support Air France-KLM if necessary, following a report that the company was discussing plans to raise another 6 billion euros from its two government shareholders and other investors.

The company received 10.4 billion euros in state-backed bailouts from France and the Netherlands this year to help it cope with the impact of the coronavirus pandemic.

The French Finance Ministry declined to comment on the RTL report.

($1 = 0.8262 euros)

(Reporting by GV De Clercq and Leigh Thomas; Editing by Edmund Blair)