According to figures released by the French Automobile Manufacturers Committee, sales of French vehicle brands plunged by 84.2 percent in April.
France's massive rescue plan came one day after Deutsche Lufthansa AG said the German government's Economic Stabilization Fund (WSF) has approved a 9-billion-euro rescue package for the airline.
Lufthansa said the WSF would provide up to 5.7 billion euros in the form of "silent participation" in the company's assets, of which nearly 4.7 billion euros would be classified as equity in accordance with related financial rules.
Lufthansa was operationally healthy and profitable before the pandemic and has good prospects for the future, but it came into an existential emergency due to the coronavirus crisis, the WSF Committee, which consists of representatives of several federal ministries, said in a statement.
EASING BORDER CONTROLS
In a phased approach, European countries are cautiously easing their border controls, as part of their efforts to reopen the tourism industry, which is one of the hardest-hit sectors and accounts for about 10 percent of the European Union's economic output.
On May 13, the European Commission had offered a tourism and transport package, recommending that EU member states with "similar overall risk profiles" on the pandemic should open to tourists from each other's countries. Two days later (on May 15), Estonia, Latvia and Lithuania became the first EU nations to reopen their shared borders.
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