the money includes loans subsidies and government investments in companies like air france airbus and other aerospace manufacturers paris also plans to buy additional military hardware from airbus like refueling tankers and helicopters but the funds come with strings attached companies will be required to fund research into carbon neutral plane technology to the tune of 1500000000 euros. the question remains if the financing will help france's aerospace industry right out the pandemic turbulence the international air transportation association expects air travel revenue to plunge by 50 percent this year. and warns passenger numbers aren't likely to rebound before 2022 that's part of the reason that the e.u. is now backing plans for a lax emission restrictions set to take in effect at the end of the year a move environmental campaigners warn could light airlines pollute freely for years to come. to some other business stories making headlines hong kong has ok to $5000000000.00 bailout for cathay pacific the government says it has no intention of becoming a long term shareholder that wa

keeping airbus and air france globally competitive. companies will be required to invest more and faster in electric, hydrogen, and low emission aircraft. began trade japan talks to replace the free trade agreement britain has through the european union. the deal was signed in 2018. the u.k. will no longer benefit when it completes its exit from the bloc at the end of the year. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. still ahead, bankruptcies, distress, the fed and much more. that is next. this is bloomberg. ♪ vonnie: this is bloomberg markets. may was the busiest months for bankruptcy since 2009. of the latestone companies preparing a filing. filingmarcus is another for chapter 11. ballooned,rket has even as the fed stepped in to stave off any worst-case scenario. with us, bruce richards. you,ast time we spoke to yt was an extraordinar weekend in your world. we have just had a rip to the upside. it

air france klm. --will bolster their best airbus and parts suppliers.s a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. anna: the wto, the clock is ticking for the wto to find a new director. the body has until the end of august to report a successor. will it managed to agree on someone in time? joining us now is a former wto director general and current president of the european think tank, pascal lamy. to broaden the conversation and talk about more than leadership at the wto, but given how much pressure it has been under, particularly for the u.s., i'm sure strong leadership of the wto is important. what kind of qualities do you think the wto needs when looking for this new leader? this jobell, necessitates political skill, political experience, diplomatic capacity, and some expertise in trade. depending on moments, the proportion of the three vary. this time, i think the major quality would be a political capacity, authority, then some talent, andapacity, i would only put trade ex

air france klm. it is unclear how much money will go directly to airbus.urse, we know that this will help suppliers. as many as 200,000 people in france. some of the suppliers are very strategic. they are also defense suppliers. we expect, for example, some aircraft orders guaranteed by the state. some extension of part-time unemployment subsidies and a specific investment fund for those suppliers. just like we saw with air france, the rescue package was tied to a reduction in carbon emissions so we expect similar measures to be announced for the plane makers and suppliers today. we talked about developing some hybrid claims for the next few years. you.: good to talk to airbus had years of fully booked orders before the crisis. is that not nearly enough to compensate? caroline: we thought so, but it is not because obviously, the situation has dramatically changed with the pandemic, the band, and many airlines asking airbus and boeing to cancel or postpone their orders. remember last week, for example, they shoulds -- delay deliveries until 2022 or risk los

have to go by air france and will stop other airlines taking on those also the grounding of the a 380 planes. finally, a more efficient fleet. they've already taken possession of the airbus. the industry also received support from the government. that will take on the place to be more fuel efficient we heard from the dutch financeman this morning saying given the aid received, they will have to cut the co 2 emissions by half by 2030. this package comes from some strings attached the next battle comes with potential job cuts there are some reports that could come between 8,000 to 10,000 job cuts in july. about 15 to 20% of the work force. 1.2 billion euros lost this aid package coming this morning sending shares higher on the market on the back of heavy losses here. close to 60 pes on the year. karen. >> a trick dwy question for you clearly borders coming up. what are we seeing in a scenario like this. >> you are right, it has been a wait and see there hasn't been a flair up like other countries schools have reopened. they are waiting to watch what happens next that could be replaced by trains that are are more efficient there. the activity has come back leaving paris. ac