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French aerospace 'ACE Aero' support fund raises 630 million euros

Published 07/28/2020, 03:51 AM
Updated 07/28/2020, 03:55 AM
© Reuters.

PARIS (Reuters) - The ACE Aero Partenaires fund set up to support the French aerospace industry has raised an initial amount of 630 million euros ($738.80 million), more than the 500 million originally planned, said Dassault Aviation (PA:AVMD) on Tuesday.

The aerospace support fund was launched last month by French Finance Minister Bruno Le Maire. Aerospace companies Airbus (PA:AIR), Safran (PA:SAF), Thales (PA:TCFP) and Dassault Aviation launched a call for tenders and selected the Tikehau (PA:TKOO) fund and its subsidiary ACE.

Dassault Aviation said it was contributing 13 million euros to the ACE Aéro Partenaires fund, whose target remains a total fund raising of 1 billion euros.

 

Latest comments

unlike Germany, France always support it's own industry and country, even with the EU money. Now they are supporting France car and space industry. Germany doesn't even have spaceport. Not fair.
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