Air France-KLM in talks for French state cash injection

Air France-KLM has asked the French state for an immediate cash injection to help the troubled carrier stay afloat in the next 4 to 5 months, according to Les Echos newspaper. The cash injection, which could represent “many billions” of euros, would come on top of state-backed loans worth about E6b (US$6.5b) the company is currently negotiating with lenders, Les Echos said, without saying where it got the information. Friday, French finance minister Bruno Le Maire vowed to provide strong backing for Air France-KLM after the airline warned that without additional financing, it would need to raise liquidity in the 3 months through September, despite drastic cost-cutting measures that include slashing planned investments and accelerating the retirement portions of its fleet. <br/>