2020 was a tough year for the airline industry and Air France-KLM, with the airline posting an operating loss of €4.5 billion. The stock was down about 1 percent at the opening of the Paris Stock Exchange on Thursday.
Air France's revenue fell by 59 percent compared to 2019, according to the annual report published on Thursday morning. Revenue amounted to 11.1 billion euros.
”In 2020, we can "This can be summed up as the Air France-KLM group's most serious crisis ever and a situation that the airline industry has never experienced before," says CEO Benjamin Smith.
During the fourth quarter, Air France-KLM had 75.9 percent fewer passengers than during the same quarter last year.
The assessment for 2021 will also not be made, as visibility for the aviation industry is too cloudy at the moment due to the pandemic, writes Air France.
”We start 2021 hoping for a recovery in traffic as soon as vaccinations are widely distributed and borders reopen,” says Benjamin Smith.
However, the start of the year has been difficult so far, with travel restrictions around the world hampering operations after some recovery over the Christmas holidays.
The plan is for capacity to be ramped up in 2021, with some recovery expected in the second and third quarters.
Air France-KLM is also currently negotiating with the French and Dutch governments as well as the European Commission on a new aid package to save the company.
Source: Nyhetsbyrån Direkt
