Air France must slash domestic traffic in exchange for state guarantees -minister
Sun May 24 2020
Lucy Harlow (3230 articles)

Air France must slash domestic traffic in exchange for state guarantees -minister

An Air France passenger jet takes off at Paris Charles de Gaulle airport in Roissy-en-France during the outbreak of the coronavirus disease (COVID-19) in France May 19, 2020. REUTERS/Charles Platiau

PARIS (Reuters) – Air France (AIRF.PA) will have to “drastically” reduce its domestic air traffic in exchange for state loan guarantees, French Environment Minister Elisabeth Borne said on Sunday.

Domestic routes were served by alternatives in the form of high-speed trains, she noted in an interview with France Inter radio.

The government last month offered the airline a 7 billion euro ($ 7.6 billion) package made up of state-guaranteed bank loans and loans directly from the state.

In exchange for the loan guarantees, the airline had promised to reduce domestic CO2 emissions by 50% by 2024, Borne added.

Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe