Dassault will contribute €13m to a fund supporting the French civil aviation industry hit by the economic crisis caused by Covid-19. The ACE Aéro Partenaires investment fund was launched last month by Bruno Le Maire, Minister of Economy, Finance and Recovery.
The fund is led by four industrial giants: Airbus, Safran, Thales and Dassault Aviation. The four main contractors launched a joint call for tenders to manage the investment fund, after due process they selected the Tikehau fund and its subsidiary ACE
The ACE Aero Partenaires fund is a key lever to support small market enterprises in the civil aviation industry, according to its members.
The fund now stands at €630m, including the €13m from Dassault, higher than the €500m planned thanks to contributions from the French government, main contractors and the fund manager Tikehau Capital. The overall objective remains to collect a total fund of €1bn.
Eric Trappier, chairman and CEO of Dassault Aviation, said: “This success demonstrates the strategic nature of civil aeronautics in terms of employment, technology and foreign trade. Such a commitment, which is set to grow with the contribution of other investors, will effectively help the exceptional French aerospace supply chain, which is the basis of our industry.”
He added: “It is about supporting the most fragile companies, preserving skills, encouraging digital modernisation and environmental transition. The solidarity and cohesion of our eco-system have been exemplary for more than a century. Dassault Aviation is proud to be part of this tradition, which is one of the foundations of the dynamism of the aeronautics industry in our country.”