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 12 months.
Nevertheless, in an indication the worst is perhaps over, the group stated it hopes to function at two-thirds of capability earlier than the tip of the 12 months.
Air France-KLM additionally stated 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 stated.
Air France KLM chief govt, Benjamin Smith, stated: “The second quarter outcomes show the unprecedented influence 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 applied have nonetheless enabled our operational losses to be lowered.”
To safe the way forward for each carriers, the French and the Dutch governments have supplied monetary packages with situations hooked up to extend competitiveness and obtain sustainability aims.
Because of this, the group had €14.2 billion of liquidity or…