{"id":2805,"date":"2023-02-20T11:36:52","date_gmt":"2023-02-20T11:36:52","guid":{"rendered":"https:\/\/aviation-news.info\/?p=2805"},"modified":"2024-08-12T15:13:14","modified_gmt":"2024-08-12T12:13:14","slug":"eu-approves-1-5-billion-aid-to-compensate-air-france-for-pandemic-damages","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=2805","title":{"rendered":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages"},"content":{"rendered":"

The European Commission has announced that a \u20ac1.4 billion ($1.5 billion) support measure proposed by the French government for\u00a0Air France\u00a0was in accordance with the EU\u2019s state aid rules. State aid aims to compensate the French flag carrier for the financial damages resulting from the COVID-19 pandemic.<\/p>\n

The financial support \u201cwill be granted in several tranches and may take the forms of grants, equity support, or liquidity support,\u201d according to the Commission.<\/p>\n

Damage caused by the COVID-19<\/h2>\n

In the wake of the COVID-19 pandemic, airlines throughout\u00a0Europe\u00a0have looked to governments for financial help. The latest\u00a0state aid\u00a0to Air France is not the first in recent years.<\/p>\n

The \u20ac7 billion ($7.5 billion) financial aid, which the EU approved on May 4th, 2020, was dedicated to liquidity support for Air France. Another \u20ac4 billion ($4.2 billion) financial measure designated to recapitalize the carrier was cleared by the Commission on April 6th, 2021.<\/p>\n

\n
\n
\"Air<\/picture><\/figure>\n<\/div>\n
Photo: Soos Jozsef | Shutterstock<\/div>\n<\/div>\n

The EU Commission’s official statement outlined:<\/p>\n

\u201cThe Commission found in particular that the French measure will make good the damage that is directly linked to the coronavirus outbreak. It also found the measure to be proportionate, as the compensation does not exceed what is necessary to make good the damage.\u201d<\/p><\/blockquote>\n

Air France, owned by the Air France-KLM group, is a key player in the French economy regarding employment and connectivity for many domestic and international destinations. Air France currently has a total of 261\u00a0aircraft\u00a0in its fleet, according to ch-aviation.com data.<\/p>\n

<\/div>\n

Air France-KLM financial situation<\/h2>\n

At the height of the COVID-19 pandemic,\u00a0Air France-KLM\u00a0group lost \u20ac7.1 billion ($7.6 billion) in net income due to the setbacks of the pandemic. In 2021, the Franco-Dutch airline group incurred a net loss of \u20ac3.2 billion ($3.4 billion).<\/p>\n

Air France-KLM recently shared their financial results for 2022, which showed that they are doing way better financially than they were the previous year.<\/p>\n

Air France-KLM reported a net income of \u20ac700 million. The positive result was attributed to an increase in capacity, load factor, and passenger yield. In 2022, Air France-KLM carried a total of 83.3 million passengers.<\/p>\n

\n
\n
\"Air<\/picture><\/figure>\n<\/div>\n
Photo: Air France-KLM Group<\/div>\n<\/div>\n

Commenting on the results, Benjamin Smith, Group CEO, said:<\/p>\n

\u201cOn the financial side, we successfully undertook major operations to both restore our equity and consolidate our balance sheet while continuing to pay back the State aids we received. We secured landmark deals, including a strategic commercial partnership with CMA CGM Group, which became our largest private shareholder.\u201d<\/p><\/blockquote>\n

\n
<\/div>\n<\/section>\n

Source:\u00a0ch-aviation.com<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Commission has announced that a \u20ac1.4 billion ($1.5 billion) support measure proposed by the French government for\u00a0Air France\u00a0was in accordance with the EU\u2019s state aid rules. State aid aims to compensate the French flag carrier for the financial damages resulting from the COVID-19 pandemic. The financial support \u201cwill be granted in several tranches …<\/p>\n","protected":false},"author":1,"featured_media":2806,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[102,88],"tags":[],"class_list":["post-2805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-en","category-flights"],"yoast_head":"\nEU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=2805\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages\" \/>\n<meta property=\"og:description\" content=\"The European Commission has announced that a \u20ac1.4 billion ($1.5 billion) support measure proposed by the French government for\u00a0Air France\u00a0was in accordance with the EU\u2019s state aid rules. State aid aims to compensate the French flag carrier for the financial damages resulting from the COVID-19 pandemic. The financial support \u201cwill be granted in several tranches …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aviation-news.info\/?p=2805\" \/>\n<meta property=\"og:site_name\" content=\"aviation news\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=100088552298353\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-20T11:36:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-12T12:13:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1421\" \/>\n\t<meta property=\"og:image:height\" content=\"602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"adminnews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:site\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"adminnews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805\"},\"author\":{\"name\":\"adminnews\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/person\\\/02e91cef3ca1560c153b683711401bd3\"},\"headline\":\"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages\",\"datePublished\":\"2023-02-20T11:36:52+00:00\",\"dateModified\":\"2024-08-12T12:13:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805\"},\"wordCount\":412,\"publisher\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Screenshot-2023-02-20-143809.png\",\"articleSection\":[\"Featured\",\"Flights\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805\",\"name\":\"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages - aviation news\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Screenshot-2023-02-20-143809.png\",\"datePublished\":\"2023-02-20T11:36:52+00:00\",\"dateModified\":\"2024-08-12T12:13:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/aviation-news.info\\\/?p=2805\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#primaryimage\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Screenshot-2023-02-20-143809.png\",\"contentUrl\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Screenshot-2023-02-20-143809.png\",\"width\":1421,\"height\":602},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=2805#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/aviation-news.info\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#website\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/\",\"name\":\"aviation news\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/aviation-news.info\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#organization\",\"name\":\"aviation news\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/aviation-news-logo.png\",\"contentUrl\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/aviation-news-logo.png\",\"width\":500,\"height\":154,\"caption\":\"aviation news\"},\"image\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=100088552298353\",\"https:\\\/\\\/x.com\\\/aviationne428\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/person\\\/02e91cef3ca1560c153b683711401bd3\",\"name\":\"adminnews\",\"sameAs\":[\"https:\\\/\\\/aviationnews-inetrnational.com\"],\"url\":\"https:\\\/\\\/aviation-news.info\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages - aviation news","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/aviation-news.info\/?p=2805","og_locale":"en_GB","og_type":"article","og_title":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages","og_description":"The European Commission has announced that a \u20ac1.4 billion ($1.5 billion) support measure proposed by the French government for\u00a0Air France\u00a0was in accordance with the EU\u2019s state aid rules. State aid aims to compensate the French flag carrier for the financial damages resulting from the COVID-19 pandemic. The financial support \u201cwill be granted in several tranches …","og_url":"https:\/\/aviation-news.info\/?p=2805","og_site_name":"aviation news","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=100088552298353","article_published_time":"2023-02-20T11:36:52+00:00","article_modified_time":"2024-08-12T12:13:14+00:00","og_image":[{"width":1421,"height":602,"url":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","type":"image\/png"}],"author":"adminnews","twitter_card":"summary_large_image","twitter_creator":"@aviationne428","twitter_site":"@aviationne428","twitter_misc":{"Written by":"adminnews","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/aviation-news.info\/?p=2805#article","isPartOf":{"@id":"https:\/\/aviation-news.info\/?p=2805"},"author":{"name":"adminnews","@id":"https:\/\/aviation-news.info\/#\/schema\/person\/02e91cef3ca1560c153b683711401bd3"},"headline":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages","datePublished":"2023-02-20T11:36:52+00:00","dateModified":"2024-08-12T12:13:14+00:00","mainEntityOfPage":{"@id":"https:\/\/aviation-news.info\/?p=2805"},"wordCount":412,"publisher":{"@id":"https:\/\/aviation-news.info\/#organization"},"image":{"@id":"https:\/\/aviation-news.info\/?p=2805#primaryimage"},"thumbnailUrl":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","articleSection":["Featured","Flights"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/aviation-news.info\/?p=2805","url":"https:\/\/aviation-news.info\/?p=2805","name":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages - aviation news","isPartOf":{"@id":"https:\/\/aviation-news.info\/#website"},"primaryImageOfPage":{"@id":"https:\/\/aviation-news.info\/?p=2805#primaryimage"},"image":{"@id":"https:\/\/aviation-news.info\/?p=2805#primaryimage"},"thumbnailUrl":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","datePublished":"2023-02-20T11:36:52+00:00","dateModified":"2024-08-12T12:13:14+00:00","breadcrumb":{"@id":"https:\/\/aviation-news.info\/?p=2805#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/aviation-news.info\/?p=2805"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/aviation-news.info\/?p=2805#primaryimage","url":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","contentUrl":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","width":1421,"height":602},{"@type":"BreadcrumbList","@id":"https:\/\/aviation-news.info\/?p=2805#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/aviation-news.info\/"},{"@type":"ListItem","position":2,"name":"EU Approves $1.5 Billion Aid To Compensate Air France For Pandemic Damages"}]},{"@type":"WebSite","@id":"https:\/\/aviation-news.info\/#website","url":"https:\/\/aviation-news.info\/","name":"aviation news","description":"","publisher":{"@id":"https:\/\/aviation-news.info\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/aviation-news.info\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/aviation-news.info\/#organization","name":"aviation news","url":"https:\/\/aviation-news.info\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/aviation-news.info\/#\/schema\/logo\/image\/","url":"https:\/\/aviation-news.info\/wp-content\/uploads\/2025\/01\/aviation-news-logo.png","contentUrl":"https:\/\/aviation-news.info\/wp-content\/uploads\/2025\/01\/aviation-news-logo.png","width":500,"height":154,"caption":"aviation news"},"image":{"@id":"https:\/\/aviation-news.info\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=100088552298353","https:\/\/x.com\/aviationne428"]},{"@type":"Person","@id":"https:\/\/aviation-news.info\/#\/schema\/person\/02e91cef3ca1560c153b683711401bd3","name":"adminnews","sameAs":["https:\/\/aviationnews-inetrnational.com"],"url":"https:\/\/aviation-news.info\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/aviation-news.info\/wp-content\/uploads\/2023\/02\/Screenshot-2023-02-20-143809.png","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/posts\/2805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aviation-news.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2805"}],"version-history":[{"count":0,"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/posts\/2805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviation-news.info\/index.php?rest_route=\/wp\/v2\/media\/2806"}],"wp:attachment":[{"href":"https:\/\/aviation-news.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviation-news.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviation-news.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}