One of the largest airlines in Europe, Air France, is on the verge of bankruptcy. This was stated by the Minister of Economy and Finance of France Bruno Le Maire in an interview with BFM Business.
Air France could go broke if it doesn’t receive massive government aid, he said. The minister noted that the air carrier is a strategically important company for the country. France must necessarily have its own airline, this is one of the guarantees of the country’s sovereignty, added Le Maire. The authorities have already allocated seven billion euros to Air France in 2020.
In return, the company must increase its competitiveness and become a leader in complying with the norms for protecting the environment of the planet, as well as an example of an air carrier committed to the principles of sustainable development, said Le Maire. Earlier it became known that Air France was preparing to begin mass layoffs.
In the next two years, the company plans to cut about 7.5 thousand jobs. The consequences of the crisis caused by the coronavirus pandemic forced her to take such measures. Another aviation giant – German Lufthansa – is also forced to massively lay off its employees, tens of thousands of people may be left without work. The company believes that in the new reality about 26 thousand positions are redundant.