BRUSSELS – The European Union has approved $4.7 billion in state aid for national carrier Air France as it struggles through the economic impact of the COVID-19 pandemic, a decision the French government welcomed as “good news.” In return for the aid, the carrier has promised to make slots available to competitors at the busy Orly airport in Paris. “The public support will come with strings attached,” said EU Commission Vice President Margrethe Vestager.
Last year, Air France got 3 billion euros in direct loans from the French state, which will be converted into bonds as part of a recapitalization of up to 4 billion euros ($4.7 billion).