The deal would have Air France give up some airport flight slots. File
Gulf Today Report
France and the European Union set to close a deal to help Air France following the effects of the pandemic on the carrier.
Like most airlines, Air France has been hit by the coronavirus pandemic, Finance Minister Bruno Le Maire said.
"We are nearing a deal...It is a matter days," Le Maire told media, adding there could be concessions to ensure fair competition.
"It's not about closing lines or cutting jobs. Concessions are being asked to ensure fair competition between Air France and other carriers," Le Maire said without providing further details.
The deal would have Air France give up some airport flight slots at its Paris base.
The Air France-KLM group recorded a 7.1 billion euro ($8.38 billion) net loss for last year.
It received 10.4 billion euros in loans and guarantees from France and the Netherlands and has been negotiating a state-backed recapitalisation, with EU regulators seeking airport slot concessions at Paris-Orly and Amsterdam-Schiphol.
The leaders of China, France, Germany and the EU were set to meet in Paris on Tuesday for “unprecedented” talks on how to improve ties, despite growing jitters over Beijing’s massive investments in Europe.
Chinese President Xi Jinping and his French counterpart Emmanuel Macron were due to hold talks in Paris on Monday with the host leader seeking to forge a united European front to contend with Beijing’s advances.
The 28 EU leaders are trying to agree on who will steer the bloc over the coming years through the looming challenges of Brexit and the rise of populist parties in Europe.
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The Board of the Investment Corporation of Dubai (ICD), chaired by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, Chairman of ICD, and in the presence of Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum,
Turkey’s economy expanded 3.9 per cent in the third quarter from a year ago, according to official data released on Wednesday, though growth slowed from the previous quarter as a global slowdown put a drag on exports, but the tourism sector remained strong. Gross domestic product (GDP) contracted 0.1 per cent from the previous quarter