Bruno Le Maire

Business • Economy
France: Expectation of 11% economy shrinkage
Bruno Le Maire, Ministry of Economy and Finance
Bruno Le Maire, Ministry of Economy and Finance Credit: EU2017EE Estonian Presidency (Creative Commons Attribution 2.0)

The government of France forecasts an 11% shrinkage of its GDP. The economic expectation announcement came from from France's Finance Minister Bruno Le Maire on the radio on Tuesday. "The hardest part is still ahead of us in social and economic terms", so Le Maire.

Transportation • Air Transportation & Traffic, Flying
Air France-KLM obtain European Union approval for a 7 billion euros bailout
Air France Airbus A380-800, landing on Washington Dulles International Airport
Air France Airbus A380-800, landing on Washington Dulles International Airport Credit: Joe Ravi (Creative Commons Attribution ShareAlike 4.0)

The European Union's competition watchdog on Monday approved French state aid worth 7 billion euros for Air France-KLM.

Conditions for the funding. Include the requirement for the company to be a “good customer” for European planemaker Airbus SE, which is also struggling, and a revamp of loss-making services within France.

“There will be an elimination of domestic routes,” Finance Minister Bruno Le Maire said Monday on France-Inter radio, adding that the state aid is tied to “Air France becoming the company that most respects the environment.”