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French airline

German shareholders told to help Corsair

France's government is prepared to help the country's second largest airline - but only if the two German Corsair shareholders invest as well.

The petition carries the title «Mayday!», the international emergency call of aviation. In an online petition, 27,000 people are calling on the French government to help Corsair. The airline is the second largest in the country and is acutely endangered as a result of the Corona crisis.

Economics and Finance Minister Bruno Le Maire has already negotiated a rescue package of around seven billion with national carrier Air France. And at the beginning of the current week, he has agreed in principle to help Corsair as well. But he will only do so if the two private shareholders also participate financially in the rescue.

Intro Aviation and Tui called for

Last year, the German investment company Intro Aviation bought 53 percent of the shares of the French long-haul airline. Former owner Tui still holds 27 percent, the employees own 20 percent. However, the two German shareholders are still hesitant to invest further money in Corsair in view of the fact that demand could remain low for years to come.

Talks between the management, the shareholders and the government, however, are still ongoing. As can be heard from negotiation circles, everyone is prepared to make a contribution. Intro Aviation and Tui, on the other hand, say that they are unable to comment at present.

Only long-haul flights in the programme

Corsair’s fleet currently consists of six Airbus A330s. The airline has already ordered five A330 Neo from leasing companies. In view of the weaker demand in recent weeks, it has deployed its three Boeing 747-400s.

Corsair mainly serves routes to the French Antilles, the Ivory Coast, Canada, Cuba, Madagascar, Mauritius, Réunion, Senegal and seasonally to Miami. In June she wanted to fly to New York again. Her base is Paris-Orly Airport.

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