Air-France-KLM experiences €1.2bn loss for first quarter | Information

Air-France-KLM reports €1.2bn loss for first quarter | News

Air France-KLM has reported a €1.2 billion loss for the primary quarter of 2021.

As authorities lockdowns to regulate Covid-19 continued throughout Europe, the group flew 4.eight million passengers in the course of the quarter.

The determine represents a fall of 73 per cent year-on-year.

In a press release the provider added: “As a result of stricter lockdown in France till at the very least the start of Could, continuation of the lockdown within the Netherlands and journey restrictions worldwide nonetheless in place, the group anticipates the start of the second quarter to be much like the primary quarter whereby the shopper reserving behaviour remains to be short-term oriented.

“The important thing to scale back journey restrictions and reopen borders is a speedy rollout of wide-scale vaccination.”

Air France-KLM mentioned it expects its general capability in quarter two to be about half of that seen in the identical quarter of 2019.

That is forward of rival Worldwide Airways Group, which this morning said it expects to fly round 1 / 4 of pre-Covid-19 capability.

Ben Smith, group chief govt at Air France-KLM, mentioned: “A yr into the Covid-19 disaster, lockdown measures and journey restrictions in our dwelling markets and world wide proceed to strongly affect the group’s exercise.

“On this ever-challenging surroundings, the group has however proven its resilience, sustaining a strict management of its capability and prices.”

He added: “The success of the primary set of capital-strengthening measures accomplished in April permits us to stay up for the summer season season with larger confidence, hoping that the progress of the vaccination rollout worldwide and the implementation of journey passes will enable borders to reopen and site visitors to get better.”

“Within the meantime, now we have accelerated the implementation of our transformation plan to construct a strong post-crisis mannequin.

“This consists of the execution of our voluntary departure plans, that are progressing as anticipated.”

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