Air France-KLM: heavy losses in 2020
(CercleFinance.com) - For 2020 Air France-KLM has reported a net loss of 7.
1 billion euros, along with an operating loss of 4.5 billion euros, against respective profits of 290 million euros and 1.1 billion euros respectively in 2019.
The Franco-Dutch airline's revenues plummeted 59% to 11.1 billion euros with the unprecedented impact of the Covid-19 crisis, which led to the number of passengers falling by two thirds (-67.3%) to less than 34.1 million.
Air France-KLM forecasts a difficult first quarter in 2021, with EBITDA lower than in Q4 2020, although expects traffic to recover in the second and third quarters 2021 thanks to the rollout of the vaccine.
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