Air France-KLM plans board meeting on refinancing, sources say | Reuters

The board of Air France-KLM is expected to meet on Monday to discuss a state-backed refinancing plan to strengthen its balance sheet after a year of coronavirus shutdowns, two sources familiar with the matter said on Friday.

Air France-KLM declined to comment on the airline group’s planned board meeting, first reported by Bloomberg.

The group, heavily indebted in the wake of a 10.4 billion-euro ($12.2 billion) bailout last year, has said it plans to raise new equity. French Finance Minister Bruno Le Maire said this week that an agreement with the EU was likely within days on additional government support to Air France. $1 = 0.8504 euros Reporting by Laurence Frost; Additional reporting by Gwenaelle Barzic; Editing by Edmund Blair

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