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Air France-KLM In Talks With Apollo Global For EUR 500 Mln Capital Injection Into Affiliate

Air France-KLM Group (AFRAF.PK) announced Friday that it has entered into exclusive discussions with Apollo Global Management regarding the injection of 500 million euros of capital to an operating affiliate owning spare engines.

The latest talks following announcement of the second step of equity strengthening measures at the Full Year 2021 results presentation.

The company noted that the affiliate owns a pool of spare engines of Air France dedicated to its Engeneering and Maintenance Activity.

The proceeds of the transaction would enable Air France-KLM and Air France to partially redeem the French State perpetual bonds, as well as facilitate the financing of future spare engine acquisitions under Air France's fleet renewal program.

The structure will incur no change on operational and social aspects. The company said there will be no change in the way to use the spare engines, and no impact on Air France or Air France-KLM employees contracts.

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