Air France-KLM loses € 6,078 million between January and September.

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5 years ago

Air France-KLM lost 6,078 million euros (7,096 million dollars) in the first nine months of the year, when in the same period in 2019 it had earned 135 million euros (158 million dollars), which is explained by the collapse of its activity due to the coronavirus crisis, EFE reported.

Between January and September, its number of passengers fell by 64.7%, to 28,124 million, and its turnover by 57.6%, to 8,725 million euros (10,187 million dollars), explained Air France-KLM in a statement.

The airline obtained a negative gross operating result (ebitda) of 1,282 million euros (1,496 million dollars), compared to the positive 3,263 million euros (3,810 million dollars) of the first nine months of 2019.

In the third quarter, losses reached 1,665 million euros (1,944 million dollars), with a 69.8% drop in the number of passengers to 8,796 million and 66.8% of income to 2,524 million euros (2,947 million dollars).

The company said it had observed a positive trend of recovery in demand until mid-August, but since then the movement has been reversed, which is why they have decided to adjust downwards the capacities for the autumn-winter season.

In the fourth quarter KLM plans to offer only 45% of the seats it had offered a year earlier and Air France 35%.

In this context, it predicts a “difficult” fourth quarter with ebitda “clearly lower” than in the third quarter, when it was negative by 442 million euros.