The French government has said it is willing to extend financial support to flag carrier Air France, amid the COVID-19 downturn.
According to Reuters, Finance Minister Bruno Le Maire made the comments on Thursday, stating that he had spoken with Air France-KLM chief executive Ben Smith.
Minister Le Maire stated that the Macron government had “all the means necessary at our disposal to help”, though no further details were given.
The minister also said that he regretted the US travel ban against continental Europe, adding that it had come without consultation.
France is the latest government to agree to provide financial assistance to its airlines in the wake of the COVID-19 outbreak.
The airline has cancelled over 4,000 flights throughout the month of March. Air France-KLM shares have plummeted, shedding more than half their value over the last 30 days.
The news comes as Air France has said it is considering cutting over 1,000 jobs due to the financial impact of the virus.
KLM is expected to make similar cuts over the coming months, with demand for its Asian and North American routes petering out.
In an interesting move, the French government has also indicated that it is in talks with the Netherlands to buy the Dutch government’s shares of the group.
