Air France-KLM has reported a first quarter operating loss of €815 million as the coronavirus pandemic begins to show up in financial results. Though only the last two weeks of the three-month period were impacted, the carrier reported substantial losses.
Air France-KLM has secured at least €7 billion in government funds as the group seeks to overcome a collapse in travel demand in the midst of the coronavirus pandemic. The Franco-Dutch airline group is struggling to stay afloat because amid a raft of limitations on travel.
Air France-KLM has reported a 31 per cent drop in net profit, to €290 million, for 2019. The news comes on the back of a falloff in freight and rising fuel bills.
Virgin Atlantic, Delta, Air France and KLM have launched a new expanded joint venture. The deal is designed to offer a greater choice of routes and loyalty options when travelling between Europe, the United Kingdom and North America.
Air France-KLM has firmed up an order for 60 Airbus A220-300 aircraft to modernise its single-aisle fleet. The aircraft are intended to be operated by Air France.
Air France-KLM has reported disappointing third quarter financial results, with net profits dropping €420 million to €366 million for the three months to September 30th. There was, however, a two per cent gain in revenue to €7.7 billion.
Air France-KLM Group has signed a memorandum of understanding for 60 Airbus A220-300 aircraft to modernise its fleet. As part of a wider fleet simplification, Air France also announced plans to retire its ten Airbus A380s by 2022.
Virgin Atlantic is partnering with Air France-KLM to enhance the bluebiz small and medium-sized enterprise corporate loyalty programme in the UK. These up-and-coming businesses have always been key to the Virgin Atlantic brand, the airline said.
The commission concluded the transaction would raise no competition concerns in the European Economic Area.
Current Air Canada chief operating officer Benjamin Smith has been selected by Air France-KLM as its next chief executive. Smith has played a major role at Air Canada over the past two decades, and becomes the first overseas leader of Air France-KLM.
Hotel giant AccorHotels has dropped plans for a potential stake in Air France-KLM. In June, as part of its strategy to develop its range of services in the travel space, Accor had stated it was considering the establishment of a strategic alliance with the airline group.