Air France-KLM: new talks with Apollo GM
(CercleFinance.com) - Air France-KLM announces that it has entered into exclusive discussions with Apollo Global Management with a view to a E1.
5bn equity financing for a subsidiary holding contracts with the loyalty program's commercial partners.
Under this agreement, Apollo would subscribe to perpetual bonds issued by this operating subsidiary. This financing, accounted for as equity under IFRS, would enable the airline to strengthen its balance sheet.
The Franco-Dutch airline would retain operational management of the frequent flyer program, and the envisaged structure would entail no change in its operation for Flying Blue members, nor any impact on employment.
Copyright (c) 2023 CercleFinance.com. All rights reserved.