Air France-KLM posts a loss and sees no rebound in the second quarter

Air France-KLM said on Thursday that there would be no improvement at the start of its second quarter compared to the previous one, with travel restrictions and lockdowns in France, the Netherlands and the world remaining largely in square.

“The key to reducing travel restrictions and reopening borders is a rapid rollout of large-scale vaccination,” the company said, adding that “the pace of vaccination in Europe is slower than in the United States, where domestic demand is recovering rapidly thanks to the high-speed vaccination process. “

The Franco-Dutch carrier said the capacity of its network airlines was down 46% from a year ago in the first quarter, and it expects capacity to decline by around 50% between April and June compared to 2019 levels.

Its network capacity is expected to increase in the second half of the year as the vaccination campaign progresses and is expected to be around 55% to 65% of 2019 levels in the third quarter, he said.

Air France-KLM reduced its net loss to 1.48 billion euros ($ 1.78 billion) from a loss of 1.8 billion euros the previous year, he said. Its loss from current operations fell to 1.18 billion euros from a loss of 815 million euros, and its turnover more than halved to 2.16 billion euros from 5.02 billion euros, he said.

“Extraordinary resolutions will be presented at the next annual general meeting, aimed at giving the board of directors great flexibility to restore equity,” the company said.

Write to Olivia Bugault at [email protected]

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