Pandemic pushes Air France-KLM deep into red in 2020

PARIS (AFP) – Air France-KLM said Thursday that the coronavirus pandemic “severely impacted” its earnings in 2020, pushing it deep into a net loss of EUR7.1 billion.

The previous year, the Franco-Dutch airline had booked bottom-line profit of EUR290 million.

“2020 tested the Air France-KLM group with the most severe crisis ever experienced by the air transport industry,” chief executive Benjamin Smith said in a statement.

The airline said group revenues plunged by nearly 60 per cent to EUR11.1 billion as passenger numbers plummeted 67 per cent to EUR28.8 million. Furthermore, there was no sign of an immediate improvement for the sector, it said.

“After a positive Christmas… travel restrictions were tightened in France, the Netherlands and worldwide, having a negative impact on traffic in the first quarter of 2021,” the statement said.