Air France-KLM is said to be moving towards a €10 bil government-backed rescue deal. FMTNews
AMSTERDAM: Air France-KLM must scrap all of Chief Executive Ben Smith’s bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.
Documents filed by Air France-KLM last week showed criteria for Smith’s variable pay had been altered, and now included his ability to secure financial aid for the ailing airline group. Group chairman Anne-Marie Couderc told French senators on Wednesday that talks on a combination of state guarantees and direct loans to Air France should conclude “in coming days”, while an agreement on Dutch support for KLM would take longer.
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