France helps railway company SNCF with several billion euros: Le Figaro

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FILE PHOTO: Young French Transport Minister Jean-Baptiste Djebbari arrives to attend the weekly cabinet meeting at the Elysee Palace in Paris, France, July 7, 2020. REUTERS / Benoit Tessier

PARIS (Reuters) – France will help public rail company SNCF survive the coronavirus crisis by providing several billion euros, Transport Minister Jean-Baptiste Djebbari told Le Figaro daily on Thursday.

The government would help the company with a capital increase or additional debt buyback, Djebbari also said.

“SNCF has no cash flow problem. However, the state will help it with several billion euros, ”Djebbari said.

Djebbari also indicated that the government would expect in return a “high level of economic, environmental and social performance” from SNCF.

Meanwhile, Djebbari told France Info radio that the state is also planning to boost rail freight in the country.

“Rail represents 9% of freight transport, we want to double it to 18% by 2030,” he said.

Report by Matthieu Protard; Dominique Vidalon, Editing by Jacqueline Wong

Our standards:Thomson Reuters Trust Principles.

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