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Air France-KLM reported huge losses in the second quarter and is showing signs of recovery | WGN Radio 720

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The Hague, The Netherlands (AP) —French and Dutch airline group Air France-KLM said Friday that reservations “show the first signs of recovery” as the pandemic travel ban is relaxed. .. ($ 1.8 billion).

The Group’s fleet carried just over 7 million passengers in the second quarter of this year. This is an increase of 477% compared to the same quarter last year when strict blockades and travel restrictions put a brake on the global aviation industry.

Now that many countries have relaxed these restrictions in their vaccination campaigns, travelers are heading back into the sky.

“The interrelationship of border reopening and the acceleration of vaccination deployment around the world will play an important role in maintaining this momentum, especially in the context of the rise of Delta variants.” Group CEO Benjamin Smith Said.

The airline said the relaxation of restrictions on Americans flying to Europe “has also improved booking habits.”

However, it did not provide guidance on expected capacity for the fourth quarter of 2021, citing “Uncertainty about the reopening of the North Atlantic Ocean for European citizens and the waiver of travel restrictions.”

Revenues for the quarter were € 2.75 billion ($ 3.26 billion), an increase of 132.5% compared to the second quarter of 2020.

Air France-KLM plunged to a loss of € 7.1 billion in 2020 as the group’s passenger numbers fell by 67% due to a pandemic. The French and Dutch governments have thrown a lifeline of at least € 9 billion ($ 10.6 billion) on carriers to survive an unprecedented recession.

As part of its cost-cutting efforts, Career has fired thousands of workers in a pandemic.

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Follow AP’s pandemic coverage at https://apnews.com/hub/coronavirus-pandemic

Air France-KLM reported huge losses in the second quarter and is showing signs of recovery | WGN Radio 720

Source link Air France-KLM reported huge losses in the second quarter and is showing signs of recovery | WGN Radio 720

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