Air France-KLM: heavy losses in Q3

(CercleFinance.com) - Air France-KLM has reported a Q3 net loss of -1.
665 million euros, with an operating loss of -1,046 million euros, compared with respective results of +365 million euros and +980 million euros a year ago.

The company recorded an EBITDA loss of 442 million euros, limited thanks to cost control and government subsidies, for revenues of 2,524 million euros, down 67% year-on-year.

The airline warned that the new lockdown in France, as from Friday is a new setback that will weigh business, leading it to forecast a difficult Q4 in 2020, with EBITDA that is significantly lower than in Q3.


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