“The European Commission approved, under the [temporary] rules for state aid in EU, a Dutch measure in the value of 3.4 billion Euros, which consists of a state guarantee for loans and in a state loan given to KLM to provide urgent liquidity to the enterprise in the context of the new Corona Virus outbreak”, informs the community executive in a press note.

At issue, then, is a state guarantee for loans given by a consortium of banks and also a loan given to the company by the Dutch State, totalling 3.4 billion Euros.

Headquartered in the Netherlands, KLM is the second biggest private employer of the country, with more than 36.600 employees.

Due to the covid-19 pandemic, which had heavy impacts on the aviation sector, KLM “suffered a significant reduction in its services, that resulted in high operational losses”, highlights the European Commission in the press release.