UPDATE 1-France pledges support for state-backed firms, sees virus fallout costing billions [Reuters]
AIR FRANCE-KLM ADS (AFLYY)
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Source: Reuters
UPDATE 1-France pledges support for state-backed firms, sees virus fallout costing billions (Adds details, quotes) PARIS, March 13 (Reuters) - France will help all companies in which the French state has a stake to weather the coronavirus crisis, its finance minister said on Friday, putting the growing cost of measures to soften the economic fallout at “dozens of billions”. Describing President Donald Trump’s decision to close U.S. borders to EU citizens as an “aberration”, Finance Minister Bruno Le Maire said the move had triggered a historic sell-off on Thursday that saw shares in many of France’s top companies collapse. “We will help all companies in which the state has a stake, Air France, Renault,” Le Maire said on French television channel BFM TV. “What ever it costs we will be at their side and will support them,” he added without detailing how the government could help such companies. While Air France KLM and Renault have been hit hard in the sell-off, so has airport operator
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