By Canadian Press

France announces $16.9 billion in aid to aviation industry

Jun 9, 2020 | 1:09 AM

PARIS — France’s government has announced 15 billion euros ($16.9 billion) in aid for the virus-battered aerospace industry, including plane maker Airbus and national airline Air France.

Finance Minister Bruno Le Maire unveiled the rescue plan Tuesday for an industry that employs hundreds of thousands of people in France, whose livelihoods have been thrown into uncertainty by travel restrictions prompted by the virus.

The money includes direct government investment, subsidies, loans and loan guarantees.

The money will require the industry to invest more and faster in electric, hydrogen or other lower-emission aircraft.

It includes 7 billion euros in loans and loan guarantees that the state had already promised to Air France, whose planes are almost entirely grounded by the virus.

holiday check stops

Nanaimo motorists shine during province-wide crackdown

38m ago

targeted job action

Striking Nanaimo postal workers disrupt Purolator operations

4h ago

final flight

Massive Philippine Mars waterbomber preparing for final Island departure

8h ago

“We will do everything to support this French industry that is so critical for our sovereignty, our jobs and our economy,” Le Maire said.

The Associated Press