PARIS (Reuters) – The French state will be able to raise its shareholding in Air France to nearly 30% and become its biggest shareholder under a state-backed refinancing to help the airline through the COVID-19 crisis, French Finance Minister Bruno Le Maire said on Tuesday
Under the plan approved by the European Commission, France will convert 3 billion euros ($3.54 billion) of already granted state aid into hybrid instruments and raise up to 1 bilion euros in new equity capital, Le Maire told France Inter radio.
($1 = 0.8467 euros)
Reporting by Dominique Vidalon; Editing by David Goodman
