Air France-KLM in Talks With Apollo for $530 Million Capital Injection

   By Ed Frankl

Air France-KLM said Friday that it has entered into exclusive discussions with Apollo Global Management Inc. for a 500 million euro ($529.3 million) capital injection to an affiliate of Air France that owns of a pool of spare engines for the air carrier.

The capital injection would reinforce the group's equity, as well as facilitate the financing of future spare-engine purchases under Air France's fleet-renewal program, the airline said.

The proceeds would also enable Air France-KLM and Air France to partially redeem French state perpetual bonds, in accordance with the European Union's Covid-19 state-aid program, the company said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

May 20, 2022 02:33 ET (06:33 GMT)

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