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micahel o'leary

European Commission approves €3.4 billion KLM bailout

5 mins read

The FINANCIAL — The European Commission has approved, under EU State aid rules, a €3.4 billion Dutch aid measure consisting of a State guarantee on loans and a subordinated State loan to KLM. As a result of the imposition of travel restrictions introduced by the Netherlands and by many destination countries to limit the spread of the coronavirus, KLM has suffered a significant reduction of its services, which resulted in high operating losses. When the deal was first announced, Ryanair boss Michael O’Leary has called on the European Union to block a rescue package for KLM just a day after he slammed the EU for approving…

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European Commission approves €3.4 billion KLM bailout

5 mins read

The FINANCIAL — The European Commission has approved, under EU State aid rules, a €3.4 billion Dutch aid measure consisting of a State guarantee on loans and a subordinated State loan to KLM. As a result of the imposition of travel restrictions introduced by the Netherlands and by many destination countries to limit the spread of…