The board of Air France-KLM was meeting on Monday to approve new French government-backed refinancing measures designed to see the airline group through the COVID-19 crisis, sources close to the situation said.
Air France-KLM is expected to convert part of its 4 billion euros ($4.7 billion) in direct government loans into hybrid instruments and raise new equity capital under the plans to be announced by Tuesday morning, the sources told Reuters.
The company and the French finance ministry both declined to comment on Monday.
