‘Billions of Air France-KLM support is delayed due to Dutch state’

Negotiations between the French and Dutch State on a new capital injection into Air France-KLM are extremely difficult, writes the FD on the basis of insiders. Two deadlines have already been missed and it is taken into account that no agreement has yet been reached in the presentation of the annual figures on 18 February.

Both KLM and its parent company Air France-KLM do not wish to comment on DeccEit.

Previously, the ailing company already received state aid. KLM received a โ‚ฌ3.4 billion support package from the Netherlands and Air France โ‚ฌ7 billion from France. According to the newspaper, parties feel condemned to each other. They cannot continue without each other, because both Air France and KLM are worse off. Meanwhile, both countries want to strengthen their position in the company.

The problem is that, as with the billions of loans last summer, the Dutch government only wants to invest in KLM. The state does not want to put money into the publicly traded Parisian holding company. That is against the pain of the French authorities, which argues that an investment in the group is also in the interest of KLM.

Financially resilient

According to the FD, the Dutch negotiating team can only stick to this line, because Minister Hoekstra van Treasury said last April that the Dutch taxpayers money should only benefit KLM.

The ailing airline company is now not in acute trouble. Due to the previously paid loans of EUR 10.4 billion, Air France-KLM can continue. In addition, under the NOW scheme, KLM has already received hundreds of millions of wages; of all companies in our country by far the highest amount to pay its staff. The company now wants a new capital injection to be financially more resilient.