Published on : 24/05/2022 – 17:37
After the arrival of CMA-CGM in its capital last week, Air France-KLM, announces this Tuesday, May 24 the launch of a capital increase of more than 2.2 billion euros. The Franco-Dutch airline wants to repay the state aid it received at the height of the health crisis. Air-France-KLM had promised to launch a new capital increase before its general meeting on Tuesday afternoon, it’s done.
This new capital raising should enable Air-France KLM to strengthen its equity and repay 1.7 billion euros of French public aid to Air France in April 2021.
The air carrier is also freeing itself from the restrictions imposed by the European Commission in exchange for state support. That is to say the prohibition to take more than 10% of the capital of a company in the sector, before having reimbursed three quarters of the aid from which it has benefited. The shipowner CMA CGM will also participate in this fundraising to the tune of 400 million euros, as announced last week at the launch of its partnership with the carrier.
The French and Dutch States will also subscribe to the operation in order to maintain their participation at its current level. France holds more than 28.5% of the group’s capital. The Netherlands almost 10%. China Eastern Airlines, owner of nearly 10% of the group’s capital, and Delta Air Lines will also be there.
« The operation that we are launching today materializes the work that we have been carrying out for several months to consolidate our balance sheet and strengthen our financial autonomy. It will also contribute to enabling the company to regain its strategic leeway. “, welcomed the director general of Air France-KLM, Benjamin Smith, in a press release.
Air France-KLM had received a total of nearly 10.5 billion euros in loans guaranteed by the French and Dutch States in 2020, almost the equivalent of its losses, its planes having remained grounded at the height of the crisis. health crisis. It only returned to profit late last year.
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