PARIS (Reuters) - The board of Air France-KLM is expected to meet on Monday to discuss a state-backed refinancing plan designed to strengthen its balance sheet after a year of coronavirus shutdowns, two sources familiar with the matter said on Friday.
The airline group, which last year received 10.4 billion euros ($12.2 billion) in government-backed loans, has been discussing a multi-stage recapitalisation plan to lighten the resulting debt load, sources have said.
But the plan, likely to include conversion of a 3 billion-euro French government loan into hybrid instruments, has been held up by wrangling over European Union demands that Air France give up Paris-Orly take-off and landing slots as a condition.