The Air France-KLM Group’s results improved in the second quarter 2021 compared to last year, although the results were still impacted by travel restrictions.
The Group reported revenues of €2,750 million, up €1,568 million compared to last year. The operating result was €-752 million, up €801 million compared to last year. The Group reduced its EBITDA loss to €-248 million.
Net income was €-1,489 million, including the negative impact of the de-recognition of the KLM ground pension fund. Restructuring programs showed improved results and structural benefits increased to €2.1 billion. The Group increased its capital by €1 billion, converted the direct French State loan of €3 billion into perpetual hybrid instruments and issued a Senior bond of €800 million of which the cash will be received in the third quarter.
Net debt stood at €8.3 billion, down by €2.7 billion compared to the end of 2020 thanks to the first set of capital strengthening measures. (€1.00 = US$1.17 at time of publication.)
