Air France-KLM has reported a €1.5 billion loss for the second quarter because the Covid-19 continues to take an enormous toll on the worldwide aviation sector.
This compares to a revenue of €1.9 billion for a similar interval final yr.
Nonetheless, in an indication the worst is perhaps over, the group mentioned it hopes to function at two-thirds of capability earlier than the tip of the yr.
Air France-KLM additionally mentioned EBITDA loss had been minimalised at a median of €260 million monthly over the interval, in comparison with an preliminary estimate of €400 million.
This was due to efficient money preservation and value management measures, the group mentioned.
Air France KLM chief government, Benjamin Smith, mentioned: “The second quarter outcomes display the unprecedented affect of the COVID-19 disaster on the exercise of the Air France-KLM Group and of all airways worldwide.
“The associated fee discount and liquidity preservation measures quickly carried out have however enabled our operational losses to be diminished.”
To safe the way forward for each carriers, the French and the Dutch governments have supplied monetary packages with situations connected to extend competitiveness and obtain sustainability aims.
In consequence, the group had €14.2 billion of liquidity or…