Air France-KLM Inks €500M Financing Deal With Apollo For Its Engineering And Maintenance Unit

Apollo Global Management, Inc. APO has agreed to make a EUR 500 million investment into an Air France KLM AFLYY affiliate owning a pool of components dedicated to the airline's Engineering and Maintenance activities.

This investment further strengthens the airline's balance sheet and will support the future purchase of components related to maintenance activities. 

Apollo leveraged its cross-platform expertise, including in aviation and high grade partnerships to execute the investment.

This is Apollo's second deal with Air France-KLM in a year, with Apollo funds, affiliates, and clients contributing a total of EUR 1 billion.

Price Action: APO shares traded lower by 1.06% at $79.72 on the last check Friday.