Airbus Has No Need for Immediate State Support, France Says
(Bloomberg) -- France stands ready to help European planemaker Airbus SE, but as of now, no aid is required, French Budget Minister Gerald Darmanin said Sunday.
“There's no need for state intervention at the moment,” he told Radio J Sunday. “If there were difficulties, we'd be there to help Airbus.”
Darmanin said the company had sufficient cash as of now. Help granted to Air France-KLM, which is set to receive a total of 7 billion euros ($7.7 billion) in state and state-backed loans from France as well as support from the Dutch government, will help the planemaker “indirectly,” the minister said.
Airbus is already benefiting from programs available to support all companies, such as unemployment benefits. Air traffic has dropped dramatically amid the coronavirus epidemic as countries curbed travel.
Boeing, Airbus Shun Bailout While Counting on Aid for Airlines
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