Air France KLM - EU commission decision
Air France-KLM announced that the European Commission has reaffirmed the compliance of liquidity support measures provided during the Covid-19 crisis with EU State aid rules.
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Rhea-AI Summary
Air France-KLM announced that the European Commission has reaffirmed the compliance of liquidity support measures provided during the Covid-19 crisis with EU State aid rules. These measures, which included State guaranteed loans and State loans from the French and Dutch governments, were fully repaid by June 2022 and April 2023, respectively. This decision does not affect the ongoing appeals in the Court of Justice of the European Union regarding previous judgments by the General Court of the EU, which annulled the initial decisions due to an incorrect determination of the aid beneficiary.
Positive
- The liquidity support measures by the French and Dutch States during the Covid-19 crisis were confirmed as compliant with EU State aid rules.
- State guaranteed loans and State loans were fully repaid by June 2022 and April 2023.
Negative
- Ongoing legal appeals in the Court of Justice of the European Union regarding prior judgments annulled by the General Court of the EU.
Details
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Paris, July 10, 2024
Air France-KLM welcomes today’s decision by the European Commission confirming anew that the liquidity support measures granted to its airlines by the French and Dutch States during the Covid-19 crisis were compliant with EU State aid rules. As a reminder, these liquidity measures granted in 2020 took the form of State guaranteed loans and State loans. The Dutch and French aid measures were repaid in full by June 2022 and April 2023 respectively.
This new decision has no impact on the appeals lodged by the European Commission, Air France, KLM and Air France-KLM against the judgments of the General Court of the EU, which annulled the European Commission’s initial decisions only because they were based, for the General Court, on an incorrect determination of the beneficiary of said State aid. The Court of Justice of the European Union has still to decide on these appeals.
Investor Relations
Michiel Klinkers Marouane Mami
michiel.klinkers@airfranceklm.com marouane.mami@airfranceklm.com
Website: www.airfranceklm.com
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