France announces $ 16.9 billion in aid to the aviation industry

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PARIS (AP) – The French government has announced € 15 billion ($ 16.9 billion) in aid to the aerospace industry infected with viruses, including the aircraft manufacturer Airbus and the national airline Air France.

Finance Minister Bruno Le Maire unveiled on Tuesday the rescue plan for an industry that employs hundreds of thousands of people in France, whose livelihoods have been plunged into uncertainty due to the travel restrictions caused by the virus.

Money includes direct government investment, grants, loans and loan guarantees.

The money will force the industry to invest more and faster in electric, hydrogen or other low-emission aircraft.

It includes 7 billion euros in loans and loan guarantees that the State had already promised to Air France, whose planes are almost entirely immobilized by the virus.

“We will do everything to support this French industry, which is so important to our sovereignty, our jobs and our economy,” said Le Maire.



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