French Government launches aid plan (15 bn) for aviation and supply chain
Without which 100,000 jobs would vanish, Minister Le Maire said it
The sectoral consolidation package includes the financial assistance of EUR seven billions already granted to Air France-KLM, and aid to support research on "carbon neutral" aircraft: in the projects a hydrogen aircraft, zero CO2 emissions, within 2035
The French Economy Minister Bruno Le Maire, together with other members of the Government, presented during a press conference in Paris-Bercy today a € 15 billion rescue plan for the aviation and supply chain sectors, supporting that without Government aid, due to the profound air transport crisis caused by the coronavirus emergency, 100,000 out of 300,000 jobs (or a third), of the field and related industries, would disappear. The measure, which already includes the seven billion euros granted to Air France-Klm, comprises in particular two instruments dedicated to supporting small and medium-sized enterprises in the sector: an investment fund with an initial allocation of EUR 500 million, with a target of 1 billion, designed to encourage the development of medium-sized suppliers, and EUR 300 m in other measures to help aeronautical sub-suppliers to modernize their factories (robotization and digitalization).
In the package also, EUR 1.5 bn of public aid spread over the next three years to support the search for new forms of environmentally sustainable technology (EUR 300 mi already available for this year): in the intentions a hydrogen plane, zero CO2 emissions, by 2035. In addition to this plan, the French aviation sector will also continue to benefit from non-specific measures introduced since the beginning of the crisis, such as the lay-off scheme, or those to support investments, loans. and public guarantees for export.
Last but not least, in the aeronautics sector, an acceleration of orders in progress for Airbus aerotankers and other kits for military use. "We must save our aeronautical sector", Le Maire said it, adding that Europe will not sacrifice its position in the world market -Airbus- in favor of the American giant Boeing or the emerging Chinese rival Comac.
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