Air France-KLM reports loss of €1.2 billion for first quarter

 Monday, May 10, 2021 


Air France-KLM has recently reported a €1.2 billion loss for the first quarter of 2021.  As government lockdowns continued across Europe to control the COVID-19 situation, the group flew 4.8 million passengers during the quarter. The figure represents a fall of 73 per cent year-on-year basis.

Air France-KLM said it expects its overall capacity in quarter two to be about half of that seen in the same quarter of 2019. This is ahead of rival International Airlines Group, which said it expects to fly around a quarter of pre-pandemic capacity.

The carrier said in a statement that due to the stricter lockdown in France until at least the beginning of May, continuation of the lockdown in the Netherlands and travel restrictions worldwide still in place, the group anticipates the beginning of the second quarter to be similar to the first quarter whereby the customer booking behaviour is still short-term oriented. It mentioned that the key to reduce travel restrictions and reopen borders is a rapid rollout of wide-scale vaccination.

Ben Smith, Group Chief Executive, Air France-KLM, said in a statement that after year of the COVID-19 crisis, lockdown measures and travel restrictions in home markets and aroundthe world continue to strongly impact the group’s activity. He mentioned that in the ever-challenging environment, the group has nevertheless shown its resilience, maintaining a strict control of its capacity and costs. He added that the success of the first set of capital-strengthening measures completed in April allows the company to look forward to the summer season with greater confidence.

He shared that the carrier hopes that the progress of the vaccination rollout worldwide and the implementation of travel passes will allow borders to reopen and traffic to recover. He also mentioned that in the meantime, the airline has also accelerated the implementation of transformation plan to build a solid post-crisis model including the execution of voluntary departure plans, which are progressing as expected.

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