Air France-KLM reports €1.5 billion loss in second quarter
3 years, 4 months ago

Air France-KLM reports €1.5 billion loss in second quarter

NL Times  

Air France-KLM suffered a loss of 1.5 billion euros in the second quarter of 2021, about the same as in the first quarter. In 2020, Air France-KLM suffered a loss of over 7 billion euros. The Dutch cabinet gave KLM 3.4 billion euros, in the form of loans and guarantees. International trade association IATA recently said that the demand for air travel was slightly higher in June than in May, but it was still 60 percent lower than in June 2019 before the pandemic broke out.

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History of this topic

Air France-KLM considering buying 20% stake in Air Europa: report
4 weeks ago

Air France-KLM considering buying 20% stake in Air Europa: report

NL Times  

Air France-KLM is in talks about buying a 20 percent stake in the Spanish airline Air Europa, the Spanish business newspaper El Economista reported. These talks follow a failed attempt by British Airways parent IAG to acquire Air Europa this past summer. IAG already owns the Spanish airlines Iberia and Vueling and Brussels did not like the idea of adding …

Low hotel occupancy to Airlines reporting major loss: Paris Olympics turning into a financial mess for France
5 months ago

Low hotel occupancy to Airlines reporting major loss: Paris Olympics turning into a financial mess for France

Hindustan Times  

Paris Olympics is around the corner, and the fans are eagerly waiting for the sporting extravaganza to kickstart, but it's not turning out as expected for the host country France. Hosting an event like the Olympics often works well in any country's favour in terms of boosting tourism, which directly benefits their financial conditions; still, it is not going the …

KLM not achieving its own climate targets: Milieudefensie report
6 months, 2 weeks ago

KLM not achieving its own climate targets: Milieudefensie report

NL Times  

KLM is one of the few aviation companies with a climate plan, but the company’s CO2 emissions are not yet decreasing. According to the researchers, KLM’s strategy to allow more transfers via its home base at Schiphol Airport is difficult to reconcile with its climate goals. KLM says it shares the concerns about climate change and is, therefore, “investing billions …

Record year for Air France-KLM as sales beat €30 billion
9 months, 3 weeks ago

Record year for Air France-KLM as sales beat €30 billion

Dutch News  

Air France-KLM booked record net profit of €934 million in 2023 while group sales reached a record €30 billion, despite the impact of problems in the Middle East. “In 2023, we delivered on our commitment to strong operational and financial performance,” group CEO Benjamin Smith said in a press statement. The Dutch arm, KLM, also reported record sales, as more …

KLM growing despite problems at Transavia, Cityhopper
1 year, 4 months ago

KLM growing despite problems at Transavia, Cityhopper

NL Times  

Despite problems at Transavia and KLM Cityhopper, the airline KLM achieved better results in the second quarter than a year earlier. The fact that there were significant problems at Schiphol Airport during the May holiday last year, which did not occur this year, played a role in the Dutch airline’s results. “This season is a kind of test for the …

Air France-KLM sees robust bookings after better-than-expected Q4
1 year, 10 months ago

Air France-KLM sees robust bookings after better-than-expected Q4

Live Mint  

Air France-KLM said on Friday its 2023 bookings were almost back to pre-pandemic levels as it reported a better-than-expected fourth-quarter operating profit with global travel demand seeing a rebound. Last year was a difficult one with the travel industry struggling with pandemic-related restrictions and as prices of jet fuel and other key products soared due to the Russia-Ukraine conflict, Chief …

Air France-KLM in the race to snap up at least 50% of Portuguese airline TAP
2 years, 3 months ago

Air France-KLM in the race to snap up at least 50% of Portuguese airline TAP

NL Times  

The Portuguese government plans to sell over 50 percent of its national airline TAP’s shares later this year. Earlier this year, Air France-KLM beat out Lufthansa to get the first right at buying out ITA, the Italian airline formerly known as Alitalia. Late last year, Pedro Nuno Santos, the Minister of Infrastructure and Housing, told CNN Portugal that TAP cannot …

Air France-KLM books profit despite airport chaos; Staff shortages a long-term problem
2 years, 4 months ago

Air France-KLM books profit despite airport chaos; Staff shortages a long-term problem

NL Times  

Aviation group Air France-KLM made a profit for the first time since the coronavirus crisis. The consequences of the staff shortages in aviation will be felt for a long time, new KLM CEO Marjan Rintel said. In total, Air France-KLM achieved a turnover of 6.7 billion euros, compared to 2.8 billion euros a year earlier. The good results and a …

Apollo invests €500 million in Air France-KLM
2 years, 5 months ago

Apollo invests €500 million in Air France-KLM

NL Times  

Investor Apollo Global Management invests 500 million euros in Air France-KLM. Air France-KLM benefits from lower financing costs through the investment, while Apollo will not receive any shares in the aviation group. Apollo’s investment is part of the refinancing measures that Air France-KLM announced at the beginning of this year. The Dutch State bought additional shares to ensure that its …

Air France-KLM boss warns travelers: Go to the airport early
2 years, 6 months ago

Air France-KLM boss warns travelers: Go to the airport early

Associated Press  

PARIS — The chief of airline alliance Air France-KLM said Thursday that it will take weeks or months to get new security staff in place to lighten pressure on the Amsterdam airport, which has seen flight cancellations, damaging delays and big travel headaches as global air travel rebounds from the COVID-19 pandemic. Air France-KLM CEO Ben Smith told reporters that …

Dutch to invest €220 million in new Air France-KLM rights issue
2 years, 7 months ago

Dutch to invest €220 million in new Air France-KLM rights issue

Dutch News  

The Dutch government is to put a further €220 million into Air France-KLM by participating in a new share issue, finance minister Sigrid Kaag has told MPs. The airline is planning to raise almost €2.2 billion via the rights issue and both the Dutch and French states have said they intend to participate in order to maintain the size of …

Dutch to invest €220 million in new Air France-KLM rights issue
2 years, 7 months ago

Dutch to invest €220 million in new Air France-KLM rights issue

Dutch News  

The Dutch government is to put a further €220 million into Air France-KLM by participating in a new share issue, finance minister Sigrid Kaag has told MPs. The airline is planning to raise almost €2.2 billion via the rights issue and both the Dutch and French states have said they intend to participate in order to maintain the size of …

Dutch gov't to spend €220 million on more Air France-KLM shares
2 years, 7 months ago

Dutch gov't to spend €220 million on more Air France-KLM shares

NL Times  

Airline group Air France-KLM wants to raise almost 2.3 billion euros by issuing shares. The French State, the largest shareholder of Air France-KLM with a stake of 28.6 percent, will also participate and maintain its stake. Air France-KLM recently revealed that it had signed a major air freight deal with French container carrier CMA CGM. Air France-KLM was hit hard …

Bonus package for Air France-KLM chief is ‘incomprehensible’, says Dutch minister
2 years, 8 months ago

Bonus package for Air France-KLM chief is ‘incomprehensible’, says Dutch minister

Dutch News  

Finance minister Sigrid Kaag has described the multi million euro bonus agreed for Air France-KLM chief executive Ben Smith as ‘incomprehensible and inappropriate’, given the company needed massive state support to survive during the coronavirus pandemic. Smith has a basic salary of €900,000 but his total remuneration package for the year will total €4.3 million including bonuses, according to the …

Bonus package for Air France-KLM chief is ‘incomprehensible’, says Dutch minister
2 years, 8 months ago

Bonus package for Air France-KLM chief is ‘incomprehensible’, says Dutch minister

Dutch News  

Finance minister Sigrid Kaag has described the multi million euro bonus agreed for Air France-KLM chief executive Ben Smith as ‘incomprehensible and inappropriate’, given the company needed massive state support to survive during the coronavirus pandemic. Smith has a basic salary of €900,000 but his total remuneration package for the year will total €4.3 million including bonuses, according to the …

Air France-KLM loses price fixing case; Fined €325 mil.
2 years, 8 months ago

Air France-KLM loses price fixing case; Fined €325 mil.

NL Times  

Air France, KLM, and Martinair have to pay over 325 million euros in fines for price-fixing for air freight transport, the General Court of the European Union ruled. For this, the watchdog in Brussels already imposed a fine of almost 800 million euros in 2010, but the European court scrapped the fine in 2015 due to a formal error. In …

Air France-KLM reports huge Q2 loss, sees signs of recovery
3 years, 4 months ago

Air France-KLM reports huge Q2 loss, sees signs of recovery

Associated Press  

THE HAGUE, Netherlands — French-Dutch airline group Air France-KLM said Friday that the “first signs of recovery are visible” in bookings amid easing pandemic travel restrictions as it reported a second-quarter net loss of nearly 1.5 billion euros. Air France-KLM’s fleet of planes carried just over 7 million passengers in the year’s second quarter, a rise of 477% compared to …

Air France-KLM launches its first long-haul flight powered by sustainable aviation fuel
3 years, 7 months ago

Air France-KLM launches its first long-haul flight powered by sustainable aviation fuel

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Air France-KLM is set to launch the first long-haul flight powered by sustainable aviation fuel …

Court: Europe erred in approving €3.4B Dutch State aid for KLM
3 years, 7 months ago

Court: Europe erred in approving €3.4B Dutch State aid for KLM

NL Times  

The 3.4 billion euros of State aid provided by the Netherlands to beleaguered airline KLM should not have been approved by the European Commission, the General Court of the European Union said in a ruling issued on Wednesday. In its assessment of Dutch plans to provide a State loan and loan guarantees to KLM in June 2020, the Commission should …

Air France - KLM losses mount as travel industry continues to struggle
3 years, 7 months ago

Air France - KLM losses mount as travel industry continues to struggle

NL Times  

Air France KLM suffered a net loss of 1.5 billion euros in the first quarter of this year. “A year into the COVID crisis, lockdown measures and travel restrictions in our home markets and around the world continue to strongly impact the Group’s activity,“ the company stated in a press release. Financial results at the group in the first quarter …

Dutch Fin Min: Further KLM bailout not urgently needed
3 years, 8 months ago

Dutch Fin Min: Further KLM bailout not urgently needed

NL Times  

Dutch flag carrier airline KLM will eventually need help with liquidity, but that assistance does not need to be provided immediately, said Wopke Hoekstra in a letter to Parliament. The caretaker Minister of Finance made the statement as parent company Air France - KLM announced that the company and the French State reached a four-billion euro deal that will double …

Worst year ever for Air France-KLM: €7.1 billion loss in 2020
3 years, 10 months ago

Worst year ever for Air France-KLM: €7.1 billion loss in 2020

NL Times  

2020 was the worst year ever for Air France-KLM. Before 2020, 2009-2010 was Air France-KLM's worst year with a loss of 1.6 billion euros, NOS reports. In the last three months of 2020, the airline combination lost 1 billion euros - the lowest quarterly loss of last year. Last year the Dutch government gave KLM 3.4 billion euros in state …

KLM to cut a further 800 to 1,000 jobs as second wave hits air travel again
3 years, 11 months ago

KLM to cut a further 800 to 1,000 jobs as second wave hits air travel again

Dutch News  

Airline KLM says it has been ‘compelled to further downsize its organisation’ by cutting a further 800 to 1,000 jobs because of the continuing coronavirus crisis. ‘The current reality is that the recovery of long-haul traffic will be delayed longer than anticipated, primarily due to existing and new international measures and travel restrictions,’ the airline said. ‘Even if our crew …

KLM to cut a further 800 to 1,000 jobs as second wave hits air travel again
3 years, 11 months ago

KLM to cut a further 800 to 1,000 jobs as second wave hits air travel again

Dutch News  

Airline KLM says it has been ‘compelled to further downsize its organisation’ by cutting a further 800 to 1,000 jobs because of the continuing coronavirus crisis. ‘The current reality is that the recovery of long-haul traffic will be delayed longer than anticipated, primarily due to existing and new international measures and travel restrictions,’ the airline said. ‘Even if our crew …

Talks on more cash for Air France-KLM are moving slowly: FD
3 years, 11 months ago

Talks on more cash for Air France-KLM are moving slowly: FD

Dutch News  

Talks between the Dutch and French governments on a new capital injection for airline Air France-KLM are proceeding slowly, the Financieele Dagblad said on Monday, quoting sources close to the negotiations. But now the Netherlands, the FD says, only wants to invest in Dutch arm of the airline, rather than the stock-exchange listed parent holding company. New capital Nevertheless, the …

Negotiations on further state aid to Air France-KLM stalling: report
3 years, 11 months ago

Negotiations on further state aid to Air France-KLM stalling: report

NL Times  

Negotiations between the Dutch and French governments on further state aid for Air France-KLM are going extremely slowly, largely due to the Dutch government's insistence that it will only invest in KLM, Financieele Dagblad reported based on information from insiders. Despite previous state aid packages of 3.4 billion euros to KLM from the Netherlands and 7 billion euros to Air …

Schiphol, KLM begin preparations to transport & store Covid vaccines
4 years ago

Schiphol, KLM begin preparations to transport & store Covid vaccines

NL Times  

Schiphol will soon be one of the most important distribution points for the coronavirus vaccines in the world. And as such the airport and airline combination Air France-KLM are working hard on preparations to store and transport these highly anticipated vaccines, Het Parool reports. "Perhaps 15 billion vaccines are needed worldwide," Adriaan den Heijer of Air France-KLM said to the …

Cabinet backs KLM's efficiency drive, clearing way for €3.4bn bail-out
4 years, 1 month ago

Cabinet backs KLM's efficiency drive, clearing way for €3.4bn bail-out

Dutch News  

The cabinet has approved the cost efficiency package put together by KLM and aviation unions, clearing the way for the government’s €3.4bn rescue package to be put into effect. The finance ministry said in a statement that the cabinet has agreed to help KLM because of its importance to Schiphol’s international flight network. Earlier on Tuesday evening, the pilots union …

Gov't agrees to KLM restructuring plans; State aid back on the table
4 years, 1 month ago

Gov't agrees to KLM restructuring plans; State aid back on the table

NL Times  

The government agreed to the restructuring plan KLM submitted to reduce its costs. KLM can now once again call on the remainder of the 3.4 billion euros in state aid the government made available to help the airline survive the coronavirus crisis, NOS and NU.nl report. Minister Wopke Hoekstra of Finance last week pulled the remaining amount of the state …

KLM pilots agree to pay cuts up to 2025, clearing way for government bail-out
4 years, 1 month ago

KLM pilots agree to pay cuts up to 2025, clearing way for government bail-out

Dutch News  

Pilots’ union VNV has reached agreement with KLM about pay cuts for the next five years, clearing the way for the government to pump a further €2.4bn into the company in the form of loans and guarantees. ‘The way has now been cleared for the financial support needed to get KLM through the crisis,’ Willem Schmid, chairman of the pilots’ …

KLM Pilots agree to wage cuts clearing path for €3.4 billion state aid package
4 years, 1 month ago

KLM Pilots agree to wage cuts clearing path for €3.4 billion state aid package

NL Times  

The labor union representing Dutch airline KLM's pilots has signed a commitment to agree to salary cuts for the duration the airline receives state support to cope with a decrease in travel brought on by the coronavirus pandemic. "This brings KLM one step closer to obtaining the government loan and guarantees on bank loans totalling EUR 3.4 billion," the airline …

KLM warns of more layoffs as parent company posts €1.7 billion loss
4 years, 1 month ago

KLM warns of more layoffs as parent company posts €1.7 billion loss

NL Times  

The consequences the second wave of coroanvirus infections had for air travel may mean further layoffs at KLM, the Dutch airline said with the announcement of its third quarter results on Friday. Parent company Air France KLM suffered a loss of 1.7 billion euros in the third quarter of 2020. Without the government's NOW coronavirus support scheme, which subsidizes wage …

Pilots agree to KLM reorganisation, clearing way for bailout approval
4 years, 2 months ago

Pilots agree to KLM reorganisation, clearing way for bailout approval

Dutch News  

Three hours before the deadline, airline KLM was able to present its plans for a reorganisation to finance minister Wopke Hoekstra, after pilots’ unions reached a deal on job losses and pay. KLM earlier reached agreement with cabin and ground crew unions about cost cutting in order to meet the terms of the government’s €3.4bn bailout. ‘Much has to happen, …

KLM to Slash Upto 5,000 Jobs Despite Dutch Govt's Bailout Package to Weather Covid-19 Impact
4 years, 4 months ago

KLM to Slash Upto 5,000 Jobs Despite Dutch Govt's Bailout Package to Weather Covid-19 Impact

News 18  

Dutch airline KLM said Friday it would shed up to 5,000 jobs due to a "crisis of unprecedented magnitude" caused by the coronavirus pandemic. The carrier, part of the Air France KLM group, said the cuts through the end of 2021 were necessary as it had made huge losses despite a 3.4-billion-euro Dutch government bailout. The cuts would involve around …

Air France-KLM Reports Whopping Loss of 2.6 Billion Euros in Q2 2020 Due to Covid-19 Disruption
4 years, 4 months ago

Air France-KLM Reports Whopping Loss of 2.6 Billion Euros in Q2 2020 Due to Covid-19 Disruption

News 18  

Air France-KLM on Thursday announced a second-quarter loss of 2.6 billion euros, thanks to grounded flights during the virus pandemic, adding that the twin airlines must "significantly reduce" the workforce. Group CEO Benjamin Smith said: "The second-quarter results demonstrate the unprecedented impact of the COVID-19 crisis on the activity of the Air France-KLM Group and of all airlines worldwide". "The …

KLM to announce reorganization plans on Friday
4 years, 4 months ago

KLM to announce reorganization plans on Friday

NL Times  

KLM will reveal more details of its upcoming reorganization on Friday morning, along with the airline's financial figures for the first half of 2020. Reorganization was one of the conditions the Dutch government set for the 3.4 billion euros aid package granted to KLM to help it through the coronavirus crisis, NU.nl reports. For the aid package, the government set …

Coronavirus fallout: Air France set to layoff 7,600 employees; will slash 40 pc workforce by 2022
4 years, 5 months ago

Coronavirus fallout: Air France set to layoff 7,600 employees; will slash 40 pc workforce by 2022

India TV News  

Air France is set to cut nearly 7,600 posts due to the COVID-19 pandemic, the French government has confirmed, calling on the airline to make as few compulsory redundancies as possible. In detail, Air France planned 6,560 layoffs, including 430 pilots, 1,560 flight attendants and more than 4,500 ground staff. The French state, which owns 14.3 per cent of the …

France pledges billions to keep Europe in the aerospace race
4 years, 6 months ago

France pledges billions to keep Europe in the aerospace race

CNN  

Paris/London CNN Business — France has pledged nearly $17 billion to support Airbus, Air France and its wider aviation industry, saying Europe cannot fall behind China and the United States in the global aerospace race as a result of the pandemic. The package will secure 100,000 jobs over the next six months, French Economy Minister Bruno Le Maire said Tuesday. …

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