Stock Groups

Air France-KLM will need to raise 1 billion

by Mike Robinson

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© Reuters. FILE PHOTO. The logo of Air France KLM Group appears on an Airbus A350 of the airliner during a ceremony held at Airbus’ headquarters in Colomiers, France. It was taken September 27th 2019. REUTERS/Regis Duvignau

PARIS (Reuters) –Franco Dutch airline Air France KLM will require additional capital to meet the COVID-19 pandemic. Les Echos reports that Air France KLM, a Franco-Dutch group of airlines, will need between 1 and 2 Billion euros to finance the 2022 downturn in travel.

This paper stated that the issue would not be the company’s last. For the airline to stay a leader in the industry, it would need an additional 4 to 6 billion euros.

Since the COVID crisis began, more than 14 million euros (£15.81billion) has been provided to the airline by the French and Dutch governments.

Unable to reach a spokesperson for the group immediately

Air France KLM, which was issued a loan by the French government to support the airline’s recovery from the pandemic in December 2005, has paid back 500 million euros (565 million). It said that the company could also seek new capital.

($1 = 0.8856 euros)

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