“Renault” to receive EUR 5B financial aid

France is readying a historic package of multi-billion-euro loans to help carmaker Renault and flag-carrier Air France through the crisis caused by the coronavirus, Finance Minister Bruno Le Maire said on Friday, Report informs, citing the International Business Times.

For Air France, a 7 billion euro ($7.5 billion) package is planned, made up of 4 billion euros in bank loans guaranteed by the state, and a 3 billion euro loan direct from the state, he told TF1 television.

For Renault, a 5 billion euro ($5.4 billion) bank loan package guaranteed by the state is being worked on, he said.