July 13, 2020 / 8:37 AM / a month ago

European Commission agrees to 3.4 bln euros bailout of Dutch airline KLM

AMSTERDAM, July 13 (Reuters) - The European Commission on Monday said it had approved the 3.4 billion euros ($3.85 billion) bailout package promised by the Dutch government to airline KLM last month. After months of wrangling with France over the role each country should play in a coronavirus rescue deal, the Netherlands said it would support the Dutch arm of Air France-KLM with 2.4 billion euros in bank loans with guarantees, and a 1 billion euro direct loan. (Reporting by Bart Meijer; Editing by Toby Chopra)

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