AFLYY Air France ADS (PK)

1129 GMT - Air France-KLM is one of the most talked-about companies in the news over the past 12 hours, according to Factiva data. The Franco-Dutch airline said Friday that it has entered exclusive talks with Apollo Global Management Inc. for a $529.3 million capital injection to help it pay down debt it took out during the pandemic. The U.S. investment management firm would make the investment in a unit in Air France-KLM's engineering and maintenance business that owns a pool of spare plane engines. The proceeds would help the company pay back some financial aid from the French state as well as fund more purchases of spare engines for its fleet. The news came just a day after a partnership deal between Air France-KLM and CMA CGM Group, which will see the container shipping company take a stake of as much as 9% in the airline. The airline is contending with a EUR4.2 billion equity deficit, which could become even steeper by the end of the year, Stifel analysts said in a research note earlier this month. Dow Jones & Co. owns Factiva. (cristina.roca@wsj.com; @_cristinaroca)

(END) Dow Jones Newswires

May 20, 2022 07:44 ET (11:44 GMT)

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