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

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

As authorities lockdowns to manage Covid-19 continued throughout Europe, the group flew 4.8 million passengers in the course of the quarter.

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

In an announcement the service added: “Because of the stricter lockdown in France till not less than the start of Might, 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 just like the primary quarter whereby the client reserving behaviour remains to be short-term oriented.

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

Air France-KLM stated it expects its total 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 stated it expects to fly round 1 / 4 of pre-Covid-19 capability.

Ben Smith, group chief government at Air France-KLM, stated: “A 12 months into the Covid-19 disaster, lockdown measures and journey restrictions in our residence markets and world wide proceed to strongly impression 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 visitors to get better.”

“Within the meantime, we’ve got accelerated the implementation of our transformation plan to construct a stable post-crisis mannequin.

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

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