France will continue massive support for air transport sector: finance minister

The French government will continue giving strong support to the air transport industry throughout the COVID-19 pandemic, Finance Minister Bruno Le Maire said on Wednesday. “We will continue to support massively and durably the French air transport sector, the small- and medium-sized companies that work in the industry, the aerospace industry, Airbus, and the entire French industry ” Le Maire told the French Senate. On Tuesday, France announced plans to contribute to a E4b recapitalisation of Air France-KLM and more than double its stake in the airline to nearly 30%. Under the EU-approved terms, Air France will give up 18 Paris-Orly take-off and landing slots to competitors, amounting to 4% of its current portfolio at the airport. Le Maire said the government would make sure that no company practicing “social dumping” - cutting staff pay and benefits as much as possible - would get access to these slots. He also said the government will support the industry while trying to decarbonise air travel, notably by supporting projects for a zero-carbon hydrogen-fueled airplane.<br/>