Air France-KLM in Talks With Apollo for $530 Million Capital Injection
May 20 2022 - 2:48AM
Dow Jones News
By Ed Frankl
Air France-KLM said Friday that it has entered into exclusive
discussions with Apollo Global Management Inc. for a 500 million
euro ($529.3 million) capital injection to an affiliate of Air
France that owns of a pool of spare engines for the air
carrier.
The capital injection would reinforce the group's equity, as
well as facilitate the financing of future spare-engine purchases
under Air France's fleet-renewal program, the airline said.
The proceeds would also enable Air France-KLM and Air France to
partially redeem French state perpetual bonds, in accordance with
the European Union's Covid-19 state-aid program, the company
said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
May 20, 2022 02:33 ET (06:33 GMT)
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