PARIS (AFP) – France is preparing a historic multi-billion euro loan package to help automaker Renault and airline Air France weather the coronavirus crisis, Finance Minister Bruno said on Friday 24 April The mayor.
For Air France, a fixed price of 7 billion euros (7.5 billion dollars) is planned, composed of 4 billion euros of bank loans guaranteed by the State and a loan of 3 billion euros directly of the state, he explained to TF1.
For Renault, a package of state-guaranteed 5 billion euro ($ 5.4 billion) bank loans is being worked out, he said.
The French State retains stakes in Renault and Air France.
