Air France-KLM has secured at least €9bn in government aid, as the Franco-Dutch airline group struggles to stay afloat because of the coronavirus outbreak.
The French authorities said Air France would get €3bn in loans and another €4bn in state-guaranteed funds.
Meanwhile, the Dutch government said it was preparing between €2bn and €4bn in aid to KLM.
Major world airlines all but halted passenger traffic around the world.
But they still have to pay to park and maintain planes that have been grounded.
Earlier this year, Air France-KLM estimated the outbreak would cost the group between €150m and €200m in February-April.
Company Chief Executive Ben Smith warned on Friday that the government aid was "not a blank cheque" and would require tough action on costs and performance, Reuters news agency reports.
"This financing will give us the opportunity to rebuild. Faced with the upheaval the world is going through, we are going to have to rethink our model immediately," he added.
The group is the result of a merger between Air France and KLM in 2004.
With a fleet of 550 aircraft, it covers 312 destinations in 116 countries around the world. In 2018, Air France-KLM's passenger traffic exceeded 100 million.
Latest Stories
-
Let’s prioritize research quality in higher education institutions for industrial growth-Prof. Nathaniel Boso
3 hours -
Herman Suede is set to release ‘How Dare You’ on April 24
7 hours -
Heal KATH: Kuapa Kokoo, Association of Garages donate 120k to support project
7 hours -
KNUST signs MOU with Valco Trust Fund, Bekwai Municipal Hospital to build student hostel
7 hours -
The influence Ronaldo has on people, Cadman Yamoah will have same on the next generation – Coach Goodwin
8 hours -
Gender Advocate Emelia Naa Ayeley Aryee Wins prestigious Merck Foundation Awards
9 hours -
South Africa bursary scandal suspects granted bail
9 hours -
Ecobank successfully repays $500m Eurobond due April 18
9 hours -
Re: Doe Adjaho, Torgbui Samlafo IV, call for Unity among Paramountcies in Anlo
9 hours -
Extortion and kidnap – a deadly journey across Mexico into the US
9 hours -
Rihanna says fashion has helped her personal ‘rediscovery’ after having children
10 hours -
Development Bank Ghana targets GH¢1bn funding for commercial banks in 2024
10 hours -
Shatta Movement apologises to Ghana Society of the Physically Disabled after backlash
11 hours -
Sammy Gyamfi writes: Tema-Mpakadan Railway Project; A railway line to nowhere
11 hours -
Bright Simons: Is the World Bank saving or harming Ghana?
11 hours