European Commission agrees to €3.4 billion bailout of Dutch airline KLM

Industry:    2020-07-14

The European Commission on Monday said it had approved the 3.4 billion euros ($3.85 billion) bailout package promised by the Dutch government to airline KLM last month.

After months of wrangling with France over the role each country should play in a coronavirus rescue deal, the Netherlands said it would support the Dutch arm of Air France-KLM with 2.4 billion euros in bank loans with guarantees, and a 1 billion euro direct loan.

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