Air France-KLM: KLM secures E3.4bn loan
(CercleFinance.com) - Air France-KLM announces that its Dutch entity KLM has obtained a 3.
4 billion euro financial support package backed by the Dutch State. This "will enable KLM to weather the current COVID-19 crisis and prepare for the future".
The package consists of two loans for KLM and its subsidiaries, i.e. a 2.4 billion euro revolving credit facility granted by 11 banks and a 1 billion euro direct loan granted by the Dutch State.
The revolving credit facility and the direct loan will be drawn down on a pro-rata basis. KLM's first drawdown on the new revolving credit line will be used to repay and terminate the existing revolving credit facility drawn on 19 March for 665 million euros.
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