The European Commission approved on Tuesday a plan to help the French government to Air France, severely affected by the collapse of air traffic caused by the covid-19 pandemic, for an amount of 4,000 million euros (4,725 million dollars).

The recapitalization of Air France foresees “the conversion into hybrid capital of a loan of 3,000 million euros” granted in 2020 by the French state and a capital increase of up to 1,000 million euros “open to current shareholders and the market”, indicated a statement from the European Commission.

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