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Benzinga
Benzinga
Business
Akanksha Bakshi

Air France-KLM Raises $2.4B Via Rights Issue, Aims To Reduce Debt

Ben Smith

Air France-KLM (OTC:AFLYY) raised €2.26 billion ($2.4 billion) to expand low-cost and transatlantic flights. The airline introduced the funds through a heavily discounted share sale to return a portion of the public subsidy that helped it survive the Covid-19 outbreak, reported Bloomberg.

What happened: The proceeds of the rights issue will be used to decrease debt and reimburse the French government for around €1.7 billion in bonds issued last year and held by the French government, according to the Franco-Dutch airline on Tuesday.

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