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 could be over, the group stated it hopes to function at two-thirds of capability earlier than the top of the yr.
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 price 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 price discount and liquidity preservation measures quickly carried out have however enabled our operational losses to be decreased.”
To safe the way forward for each carriers, the French and the Dutch governments have offered monetary packages with circumstances hooked up to extend competitiveness and obtain sustainability targets.
In consequence, the group had €14.2 billion of liquidity or…