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Air France KLM

Air France cancels flights as Russia withholds clearance
World

Air France cancels flights as Russia withholds clearance

  • "Air France confirms the cancellation of flights AF1154 and AF1654 from Paris-Charles de Gaulle to Moscow on 31 May 2021 as the authorisations from Russian authorities to enter their territory have not been granted," the airline said.
Published 31 May, 2021 07:21pm
EU air traffic agency eyes Baltic routes for flights shunning Belarus
World

EU air traffic agency eyes Baltic routes for flights shunning Belarus

  • The EU will also shut out the Belarusian carrier Belavia from its skies and airports. Lufthansa, KLM, SAS, Air France, LOT and Singapore Airlines were among carriers that announced they would stop flying over Belarus.
  • "Airlines avoiding the airspace of Belarus may well have an additional time and fuel cost, depending on the route. Longer haul routes will generally be relatively less affected."
Published 25 May, 2021 07:35pm
Air France-KLM eyes further recapitalisation in 2021
Business & Finance

Air France-KLM eyes further recapitalisation in 2021

  • We do have heavy debt that is holding back our balance sheet, so this may have to get looked at again later in the year.
  • The capital hike sees the French government more than double its stake in the airline group to almost 30% as part of a total recapitalisation package worth about 4 billion euros announced earlier this month.
Published 19 Apr, 2021 04:46pm
France to become biggest Air France shareholder with capital hike
Business & Finance

France to become biggest Air France shareholder with capital hike

  • The French government will convert a 3 billion euro loan extended to the group last year into a hybrid instrument and commit up to an additional 1 billion euros to a planned share issue, raising its stake in Air France-KLM to almost 30%.
  • "This will make the state Air France's biggest shareholder," French Finance Minister Bruno Le Maire said on France Inter radio, calling the move a "sign of commitment" to the airline and its French jobs.
Published 06 Apr, 2021 12:14pm
Air France-KLM poised to announce refinancing steps
Business & Finance

Air France-KLM poised to announce refinancing steps

  • Air France-KLM is expected to convert part of its 4 billion euros ($4.7 billion) in direct government loans into hybrid instruments and raise new equity capital under the plans to be announced by Tuesday morning, the sources told Reuters.
  • After drawn-out talks with Brussels over the number of take-off and landing slots at Paris-Orly airport to be given up by Air France in return for renewed aid, France's finance minister said on Sunday a compromise agreement had been reached.
Published 05 Apr, 2021 09:16pm
Air France refinancing step expected in days, minister says
Business & Finance

Air France refinancing step expected in days, minister says

  • The airline group, which received a 10.4 billion-euro ($12.3 billion) bailout to weather the coronavirus crisis last year, plans to convert 4 billion euros in French and Dutch government loans into hybrid "quasi-equity".
  • "We are nearing a deal," Finance Minister Bruno Le Maire said on France Info radio, predicting a final agreement within "a matter of days".
Published 29 Mar, 2021 08:24pm
Paris, EU near deal on Air France bailout conditions: report
Business & Finance

Paris, EU near deal on Air France bailout conditions: report

  • The expected deal would see Air France give up fewer airport flight slots at its Paris base than initially sought by the European Commission, notably at Orly airport, the newspaper said in a report published late on Friday.
  • The Air France-KLM group recorded a 7.1 billion euro ($8.38 billion) net loss for last year.
Published 27 Mar, 2021 05:47pm
Short squeeze boosts Air France KLM as travel stocks fly
Markets

Short squeeze boosts Air France KLM as travel stocks fly

  • Air France-KLM and Lufthansa outperforming the rest of the sector today may reflect some short positions unwinding given they are some of the most heavily shorted names in the sector.
  • They are among the most sensitive to changing sentiment on traffic recovery prospects given high financial leverage and traditionally high operating leverage to revenue fluctuations.
Published 25 Feb, 2021 06:45pm