France readying 'historic' package for Air France, Renault

www.rappler.com
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In exchange for a multibillion-euro loan during the coronavirus crisis, Air France would have to 'present a plan for reducing CO2 emissions and transforming its fleet to be less polluting'
PARIS, France – France said on Friday, April 24, it was readying a "historic" package of multibillion-euro loans to help carmaker Renault and flag carrier Air France through the crisis caused by the coronavirus.

For Air France, a 7-billion-euro ($7.5-billion) package is planned and for Renault 5-billion-euro ($5.4-billion), Finance Minister Bruno Le Maire announced.

He said the package was needed to save Air France amid an unprecedented industry crisis but warned the money would come with strings attached, with the airline notably having to improve its environmental credentials.

For Air France, the loan package is made up of 4 billion euros in bank loans guaranteed by the state and a 3-billion-euro loan direct from the state, he told TF1 television.

"We need to save our national company and the 350,000 direct and indirect employees affected," he said, while describing the…
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