|Bid||23.28 x 800|
|Ask||23.33 x 1100|
|Day's Range||23.19 - 23.59|
|52 Week Range||16.67 - 26.19|
|Beta (5Y Monthly)||0.71|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.35 (1.47%)|
|Ex-Dividend Date||Jul 07, 2020|
|1y Target Est||N/A|
France is bailing out stricken Air France-KLM via a one billion euro share issue that will more than double its stake in the airline to nearly 30% while its Dutch co-owners ruled out taking part in the refinancing, terms of a proposed capital increase showed on Monday. Air France-KLM said in a statement it had launched a share issue to raise about 988 million euros ($1.2 billion) to strengthen its liquidity and finance its general needs in the context of the COVID-19 crisis. The French state, which holds 14.3% of the airline's share capital, has committed to subscribe up to a maximum of 65.9% of the capital increase, so as not to hold more than 29.9% of the company's share capital following completion of the operation.
The European Commission has approved a €4 billion ($4.7 billion) recapitalization of Air France-KLM that could see the French state double its stake in the carrier, which has been hammered by the unprecedented collapse in global travel during the COVID-19 pandemic. France, which already holds a 14.3% stake in Air France-KLM, will convert €3 billion in loans it gave to the airline last year into hybrid debt and take part in a planned additional capital raise for up to €1 billion, the airline said on Tuesday. As a result, the French government’s shareholding could rise to 30%, making it Air France-KLM’s single largest investor, French finance minister Bruno Le Maire told France Inter radio on Tuesday morning.
Looking to travel from Beijing to Hangzhou in eastern China? Led by China Eastern Airlines Corp's <600115.SS> June offer of unlimited weekend flights until Dec. 31 for 3,322 yuan ($485), domestic carriers have fallen over themselves to woo passengers back with bargain-basement fares. At the same time, China's success in mitigating the spread of the coronavirus has helped consumers regain the confidence to travel.