Air France-KLM experiences lack of €7.1bn for 2020 | Information

Air France-KLM experiences lack of €7.1bn for 2020 | Information

Air France-KLM has reported a lack of €7.1 billion for monetary 2020 as the worldwide Covid-19 pandemic grounded worldwide journey.

Passenger numbers fell 67 per cent final yr, the airline mentioned in a press release earlier, whereas income fell 59 per cent in comparison with the earlier yr.

Benjamin Smith, chief govt of Air France-KLM, mentioned: “Final yr examined the Air France-KLM Group with essentially the most extreme disaster ever skilled by the air transport trade.”

He mentioned that state assist from the French and Dutch governments had helped the corporate considerably.

“We start 2021 wanting ahead that this yr will see an upturn in visitors as quickly as vaccination is deployed on a big scale and borders as soon as once more reopen,” he mentioned.

Air France-KLM took on €10.4 billion in state-backed loans final yr.

Nevertheless, after burning via €2.6 billion in money within the fourth quarter, the airline mentioned the primary three months of this yr can be “difficult” and contain a deeper hit to earnings.

The provider expects to fly simply 40 per cent of its pre-crisis capability within the first quarter as restrictions on journey hold folks at residence.

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