Air France-KLM enters into exclusive discussions with Apollo Global Management for a €500 million financing into an affiliate owning Engineering and Maintenance (MRO) assets
04 Maio 2023 - 4:09PM
Air France-KLM enters into exclusive discussions with Apollo Global
Management for a €500 million financing into an affiliate owning
Engineering and Maintenance (MRO) assets
Paris, 4 May 2023
Air France-KLM enters into exclusive
discussions with Apollo Global
Management for a €500
million financing into an
affiliate owning Engineering and Maintenance
(MRO) assets
- Further step towards the
reinforcement of Group’s equity
- Financing proceeds to be allocated
to General Corporate Purposes
On the occasion of its Full Year 2022 results
presentation, Air France-KLM announced its intention to pursue
further balance sheet strengthening measures. The Group announces
today that it has entered into exclusive discussions with Apollo
Global Management regarding the potential financing of €500 million
of a dedicated operating affiliate of Air France, owning a pool of
assets of Air France dedicated to its Engineering and Maintenance
Activity (spare components). The proceeds of the transaction would
be allocated to General Corporate Purposes.
This financing would be non-dilutive, structured
through a quasi-equity financing instrument, similar to the one
raised by Air France on a pool of spare engines in July 2022.
The contemplated structure related to this
financing would involve no change on operational and social
aspects. Therefore, there would be no change in the way to use the
spare components, and no impact on Air France or Air France-KLM
employees contracts.
The instrument would be qualified as equity
under IFRS, hence strengthening Air France-KLM’s and Air France’s
balance sheet.
Investor
Relations
Michiel Klinkers
Marouane
Mami
michiel.klinkers@airfranceklm.com mamami@airfranceklm.com
Website: www.airfranceklm.com
- Exclusive discussions with Apollo on MRO assets
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