Air France-KLM: losses expected in Q1

(CercleFinance.com) - Air France-KLM says that it expects a Q1 2021 operating loss of around -1.
3 billion euros, with negative EBITDA of
-750 million euros, below Q4 2020 EBITDA.

However, the group notes that in the first two months of 2021, operating profit and EBITDA were well above budgeted assumptions, and that capex was also 10% below budget over this period.

Announcing strong liquidity and credit lines of 8.8 billion euros as of 28 February, Air France-KLM still expects a significant recovery in demand over the coming months - particularly in early summer - thanks to the effects of vaccinations.

Having got off to a rocky start in the market on Tuesday morning, the Air France share is currently down about 1.5% at just above 5 euros.



Copyright (c) 2021 CercleFinance.com. All rights reserved.