DALLAS – The Air France-KLM Group today reported that it has generated €2.256 billion (US$2.35 billion) in final gross proceeds. This follows a 16% oversubscription to its right issue announced on May 24, 2022.
The Group said it would allocate around €1.7 billion to pay back state aid it received during the pandemic crisis. This, management says, will allow the company to “free itself” from the conditions set by the European Commission. Bosses will use the rest of the money to reduce their net debt.
Source:: “Airways Magazine”