KLM CEO, Pieter Elbers: What next for the industry? Air France-KLM will slash its schedule this quarter as European governments implement tough new measures to combat a resurgence of Covid-19 infections. Updates with IAG results from eighth paragraph; adds shares, analyst comment. The shares fell after Air France-KLM said Friday that its French arm will offer less than 35% of year-ago capacity and KLM about 45%. The group has already received state-secured Covid-related bailouts amounting to EUR10.4 billion (USD12.3 billion). MIAMI – Transavia France’s (HV) entry into the country’s domestic market forms a key part of Air France-KLM’s strategy to rationalize its short-haul network and improve profitability, according to CEO Ben Smith speaking at the Routes Reconnected conference. Air France-KLM unveiled a 1.05 billion-euro ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs. Then, I will see how KLM survives! The cutback deepens the financial pressure on Air France-KLM ahead of talks between its biggest shareholders, the French and Dutch governments, on a recapitalization plan. The industry has been clamoring for an easing of travel restrictions, but the latest moves by France and Germany to curb movement suggest more pain. Photo: Getty Images Air France-KLM has already received billions. Wrangling continues over the Dutch part of the rescue. All rights reserved. Finance Minister Wopke Hoekstra is set to reject a KLM cost-cutting plan and withhold the next tranches of the existing 3.4 billion-euro package, Dutch daily De Telegraaf reported on Friday, citing sources close to the government. 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Air France-KLM is offering fully refundable vouchers. KLM has been trying to control Air France in all areas, and have caused Air France to become offline in most of its routes. — With assistance by Siddharth Vikram Philip, Carrier blames new lockdown in France taking effect on Friday, Fourth-quarter earnings expected to be substantially lower. Air France-KLM shares slid as much as 4.7% and were down 3.8% as of 9:10 a.m. in Paris. A 10.4 billion-euro rescue package of loans and guarantees from the French and Dutch governments has led to a ballooning of debt. One bright spot for Air France-KLM was an increase in demand for cargo, with unit revenue more than doubling. Sorry, no headlines or news topics were found. Gagey said the company is using its six freighter aircraft and has used passenger jets for cargo-only flights. PARIS (Reuters) - Air France-KLM is among airlines gearing up for the challenge of transporting millions of doses of temperature-sensitive COVID-19 vaccines in the midst of a travel slump. LONDON: Air France KLM Group has opened its new regional headquarters in Dubai Airport Freezone as the carrier comes under renewed pressure from a resurgent coronavirus pandemic. The Air France KLM team relocated to the new offices in Dubai Airport Freezone on November 1, 2020. The Air France-KLM board of directors was expected to meet on Wednesday to discuss the fallout. GameStop Employees Surprised by New Shipment of PS5, Xbox, Aphria, Tilray Combine to Create Biggest Cannabis Company, Vanguard Makes History With the First $1 Trillion Equity Fund, NYC Sees Post-Holiday Closing; Colorado Toll Rises: Virus Update, Google Services Including Gmail, YouTube Suffer Major Outage. Air France must get separated from KLM as now is the right time to do so. The new partnership provides customers with more convenient flight schedules and a shared goal of ensuring a smooth and consistent travel experience, whichever airline people fly. Air France-KLM is seeking an additional EUR6 billion euros (USD7.1 billion) to secure its future and is discussing the issue with its two government shareholders and other investors, unnamed sources told Le Monde on November 17. The KLM and KLM Cityhopper combination have an average fleet age of 10.2 years, while Air France’s fleet is an average of 13.8 years old. Delta Air Lines and China Eastern Airlines each hold a 8.8% stake in the company. KLM is also continuing to invest in Sustainable Aviation Fuel (SAF). Transavia France to drive domestic activities back into profitability… but will not use A220s: Four Years Ago Boeing Delivered 500th 787 Produced To Air France, Air France supports the association "PERSONN'AILES" in the fight against AIDS, Air France Won’t Scrap The First Class Cabin, Video: Interview With Air France CEO Anne Rigail at Skift Aviation Forum , How far does one 747 fly every month? The companies have lost more than 70% of their value this year. Lufthansa and Air France/KLM have been given the approval to operate international flights into Nigeria. Amelia International announces today the implementation of a code-share agreement that offers Air France customers greater travel opportunities in France. KLM, Air France, Virgin Atlantic, and Delta have launched their expanded joint venture offering a greater choice of routes and loyalty options when travelling between Europe, the U.K. and North America.. The French and Dutch governments, which each own 14% of the group, have already injected billions of euros into their respective national airlines to ensure the businesses survive. Air France is tripling capacity on its domestic network over the festive period. Why On Earth Was A Northwest DC-10 Painted In A Part KLM Livery? Please try different keywords. Breakthrough vaccines developed by Pfizer and Moderna have yet to win final approval, but the drugmakers, their logistics and cargo providers are not waiting for a green light to activate freight plans. Click to get a sign-in link sent to your email. KLM has a considerably newer fleet than Air France. British Airways owner IAG SA also reported results on Friday, after warning last week that it would operate no more than 30% of its usual schedule. But the surge in cases since then has put the brakes on any recovery. PARIS (Reuters) - Air France-KLM is among airlines gearing up for the challenge of transporting millions of doses of temperature-sensitive COVID-19 vaccines in the midst of a travel slump. The results include restructuring charges for staff departures. Today, Air France KLM Martinair (AFKLMP) Cargo launches the Cargo SAF Programme, enabling freight forwarders and shippers to reduce the shipments' carbon footprint. Mr Elbers heads … The third-quarter net loss at Air France-KLM narrowed to 1.67 billion euros from the prior three-month period, when the first wave of the pandemic struck. Leisure travel had picked up for Air France-KLM and its peers during the summer months when infection levels dropped. In 2019, KLM took delivery of eight new, quieter and more fuel-efficient aircraft, including the Dreamliner 787-10. PARIS: Air France-KLM unveiled a €1.05 billion ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs. Air France KLM Group on Saturday announced that … Flying Blue members with status expiry between March 2020 – February 2021 will see it extended by an additional 12 months. KLM's owner Air-France KLM is currently headed by Canadian chief executive Ben Smith, who was appointed only in September. Air France & KLM Royal Dutch Airlines resume flight operation to Nigeria The Sun News, Nigeria 16:38 12-Dec-20 AFI KLM E&M and the MRO Lab Aviation Pros 13:01 10-Dec-20 French government doubles share in Air France with injection of another 4 to 5 billion euros Aviation24 14:15 7-Dec-20 Have a confidential tip for our reporters? The Air France KLM team relocated to the new offices in Dubai Airport Freezone on 1st November 2020. “We’re working on this intensively,” Chief Financial Officer Frederic Gagey said on a conference call. Air France KLM CEO: voluntary redundancies first step in cost-cutting plans finance.yahoo.com - April 25 at 12:16 PM: U.S. Before it's here, it's on the Bloomberg Terminal. KLM is parking more than 200 planes at Schiphol. COVID-19: Adaptation of Air France and KLM's commercial policy 15 May 2020 Air France and KLM have decided to further adjust their commercial policy for flight cancellations. That’s well below a previous forecast of 65% for the Paris-based group. This will enable KLM to increase its use of sustainable fuel in the near future. Offering its passengers an optimized... KLM will need more financial support, CEO Pieter Elbers admits Air France-KLM is discussing plans to raise another 6 billion euros ($7.1 billion) from its two government shareholders and other investors, French newspaper Le Monde reported on Tuesday. Air France to commence new routes from France to Algeria in late 2020. Air France-KLM announced yesterday that, due to the current uncertainty of travel, they are offering fully refundable vouchers to customers who need to change their plans for whatever reason. As for the passenger service, Air France KLM group now operates seven passenger flights to four destinations on the Chinese mainland, including two weekly flights of Air France and one weekly service of KLM between Shanghai and Europe. Air France-KLM reported a 45 percent drop in pre-tax profit to $374 million (€346 million) for the year to the end of December 2019. That will lead to “substantially lower” results than the third quarter’s 442 million-euro ($516 million) loss before interest, taxes, depreciation and amortization, Air France-KLM said. Last year KLM purchased 6911 tonnes of SAF and announced that it would be building the Netherlands' first SAF production plant in partnership with SkyNRG. Launch of the Dutch Action Agenda for Train and Aviation: less flights, more trains, e.g. The miles expiry for non-elite members has … “Strengthening equity can be done in many ways.”. State furlough programs and outright job cuts helped keep costs down, but the airline group declined to give a full-year forecast. Also, Air France is offering its passengers insurance that covers COVID-19-related risks. IAG declined as much as 2.6%, and was off almost 1% in London. 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French arm Air France has accelerated a job-cutting plan to include the equivalent of 8,500 positions through 2022, it said Friday, adding that Dutch unit KLM plans to eliminate as many as 5,000 workers in 2020. At the end of September, Air France-KLM had 12.4 billion euros of liquidity and credit lines at its disposal. Deaths Top 50,000; Bailout for Air France-KLM: Virus Update finance.yahoo.com - April 24 at 9:15 PM: The Air France-KLM Group and Air France secure funding of €7 billion to help overcome the crisis and prepare for the future You’ll be surprised…, Air France to operate 55% of 2019 domestic capacity levels over winter 2020/2021, Air France-KLM CEO Discusses Profitability on Domestic Routes, Air France Eyes 737 MAX If A220 Stretch Doesn’t Happen, Routes Reconnected: Air France – KLM CEO: “Transavia won’t operate from Paris CDG or use A220s”, Routes Reconnected: Air France-KLM CEO targets domestic profitability, KLM chief Elbers on vaccine boost, state support and ‘building back better’, Air France to Increase Domestic Holiday Capacity. Air France-KLM Flying Blue has now announced their Covid-19 response to status and miles expiry. With cost controls limiting the cash burn, Air France-KLM “should be able to make it to next summer, but after that will be dependent on a traffic recovery,” said Daniel Roeska, an analyst with Sanford C. Bernstein. The carrier has said it will have to raise new equity, and is aiming for a plan by May amid tension over the partnership between the two European nations. Amsterdam – Air France-KLM, Martinair Cargo (AFKLMP) have launched the world’s first sustainable aviation fuel (SAF) program for the air cargo industry, enabling freight forwarders and shipping companies to reduce their CO2 emissions.. By investing in the Cargo SAF Program, customers will not only help pioneer the use of SAF but will also scale up the SAF market, contributing to a … By participating in this programme, customers are investing in the development … Related Topics Air France-KLM will slash its schedule this quarter as European governments implement tough new measures to combat a resurgence of Covid-19 infections. Deutsche Lufthansa AG has previously said it will target a maximum of 25% capacity this quarter. 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The carrier blamed a lack of demand and the French government’s decision to implement a new lockdown barring people from traveling except in extenuating circumstances. © Copyright 1997 - 2020 NewsNow Publishing Limited. Discover the Air France universe: purchase a ticket, visit our corporate website, and gain access to all AIR FRANCE KLM Group sites. The shares fell after Air France-KLM … PARIS (Reuters) - Air France-KLM is discussing plans to raise another 6 billion euros ($7.1 billion) from its two government shareholders and other … Air France-KLM to tap new funds in next phase Gulf News 05:07 1-Sep-20 Air France-KLM Firms Up Plan to Raise Funds Amid Travel Slump BNN Bloomberg 04:15 1-Sep-20 Air France increases its flight capacity out of Paris-Orly Aviation24 08:51 31-Aug-20 Back in 2017 it was first announced that Air France-KLM, Delta, and Virgin Atlantic, intended to launch a mega joint venture.At the time this was also supposed to involve Air France-KLM buying a stake in Virgin Atlantic, but Richard Branson has since backtracked on that. Air France-KLM will receive up to 11 billion euros ($12 billion) in financial aid from the French and Dutch government as the coronavirus pandemic pushes many airlines closer to bankruptcy. 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