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Dutch minister throws carrier KLM 3.4 billion euro lifeline

Published Fri Jun 26 2020 07:05:33 GMT+0000 (Coordinated Universal Time)
The Dutch government says that it will throw national carrier KLM a 3.4 billion-euro ($3.81 billion)  lifeline to help the airline survive the aviation slump caused by the coronavirus pandemic. Finance Minister Wopke Hoekstra said Friday the support package is made up of a 1 billion-euro ($1.12 billion) loan and 2.4 billion euros ($2.69 billion) in guarantees for bank loans. There are strings attached to the bailout, with the government setting conditions including that KLM must cut costs by 15%, improve the airline’s sustainability and reduce the number of night flights it carries out at the national airport Schiphol on the outskirts of Amsterdam.
by By MIKE CORDER
Dutch minister throws carrier KLM 3.4 billion euro lifeline
Dutch minister throws carrier KLM 3.4 billion euro lifeline