By Ed Frankl

Air France-KLM said Friday that it has entered into exclusive discussions with Apollo Global Management Inc. for a 500 million euro ($529.3 million) capital injection to an affiliate of Air France that owns of a pool of spare engines for the air carrier.

The capital injection would reinforce the group's equity, as well as facilitate the financing of future spare-engine purchases under Air France's fleet-renewal program, the airline said.

The proceeds would also enable Air France-KLM and Air France to partially redeem French state perpetual bonds, in accordance with the European Union's Covid-19 state-aid program, the company said.


Write to Ed Frankl at edward.frankl@dowjones.com


(END) Dow Jones Newswires

05-20-22 0233ET