AviTrader sponsorship ad

Air France-KLM Group reports second-quarter net loss of €1,489 million

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.)

Share this Article

BizJet International rebrands as Lufthansa Technik Engine Services

Monday October 7, 2024

Michael Scheferhoff, newly appointed President and CEO of Lufthansa Technik Engine Services

BizJet International, an engine maintenance service provider in the United States and a subsidiary of Lufthansa Technik, has officially rebranded as Lufthansa Technik Engine Services (LTES). The rebranding aligns the Tulsa-based company with Lufthansa Technik'... Read More »

BOC Aviation finalises lease agreement with United Airlines

Monday October 7, 2024

United Airlines Boeing 787 © United Airlines

BOC Aviation has announced the completion of a lease agreement with United Airlines (United) for three Boeing 737-9 and one Boeing 787-9 aircraft. The three 737-9s are equipped with CFM LEAP-1B engines, while the 787-9 operates with General Electric GEnx engin... Read More »

Global CO2 emissions per seat show significant decline, reports IBA

Monday October 7, 2024

Aviation market intelligence firm IBA has reported a notable decrease in CO2 emissions per Available Seat Kilometre (ASK) globally compared to pre-pandemic levels. According to the company's latest data, global aircraft efficiency has seen significant improvem... Read More »

Wizz Air opens advanced pilot training centre at Rome Fiumicino Airport

Monday October 7, 2024

Wizz Air has opened a new pilot training centre at Rome Fiumicino Airport

Wizz Air has inaugurated its latest state-of-the-art pilot training centre at Rome Fiumicino Airport in Italy, marking a significant expansion of its training capabilities beyond its initial facility in Budapest. The new centre is set to provide recurrent trai... Read More »

Avolon reports strong Q3

Monday October 7, 2024

Aviation finance company Avolon has provided an update on its activities for the third quarter (Q3) of 2024. The company sold 11 aircraft during the period, resulting in 59 aircraft now agreed for sale. Additionally, Avolon delivered nine new aircraft and tran... Read More »

KLM implements strategic overhaul to boost profitability and efficiency

Monday October 7, 2024

KLM Royal Dutch Airlines (KLM) has announced a series of measures aimed at enhancing its operational and financial performance. This comprehensive plan includes increasing productivity, simplifying the organisational structure, reducing costs and deferring non... Read More »

Gogo to acquire Satcom Direct, expanding global in-flight connectivity

Friday October 4, 2024

Gogo Inc. and Satcom Direct have entered into a definitive agreement under which Gogo will acquire Satcom Direct, creating an in-flight connectivity provider capable of meeting the performance and cost requirements of every segment in the global business aviat... Read More »

Pratt & Whitney opens new state-of-the-art facility in Oklahoma City

Friday October 4, 2024

Ribbon cutting ceremony at P&W’s new Oklahoma City facility

Pratt & Whitney (P&W) has inaugurated its new 845,000 ft² facility in Oklahoma City, further establishing its position as the company's largest military engines field location. The US$255 million investment will enable Pratt & Whitney to meet the ... Read More »

AH-6 Little Bird helicopter for Royal Thai Army completes maiden flight

Friday October 4, 2024

The first of eight Boeing AH-6 Little Bird light attack helicopters for the Royal Thai Army successfully completed its maiden flight on August 22, at Boeing's facility in Mesa, Arizona. Following the delivery of the AH-6 fleet, Boeing will train the Royal Thai... Read More »

JSA secures US$150 million financing for Frontier Airlines’ fleet expansion

Friday October 4, 2024

Jackson Square Aviation (JSA) has successfully closed a US$150 million pre-delivery payment (PDP) financing facility for Frontier Airlines Inc. (Frontier). The facility will partially finance Frontier's obligations for the pre-delivery payments on its Airbus A... Read More »

Toyota invests additional US$500 million in Joby Aviation

Friday October 4, 2024

Toyota Motor Corporation will invest an additional US$500 million in Joby Aviation to support the certification and commercial production of Joby's electric air taxi, aiming to realise the two companies' shared vision of air mobility. The investment, which wil... Read More »

SAS names Peter Cabello Holmberg as new CIO

Friday October 4, 2024

SAS has announced the appointment of Peter Cabello Holmberg as its new Chief Information Officer (CIO), who will be responsible for leading the airline's digital transformation agenda, focusing on advancing digital solutions, enhancing operational efficiency a... Read More »

Cebu Pacific finalises order for 70 Airbus A321neo aircraft

Thursday October 3, 2024

Cebu Pacific has finalised an order for 70 A321neos initially announced in July

Cebu Pacific, the Philippines' leading airline, has placed a firm order with Airbus for 70 A321neo aircraft, finalising a memorandum of understanding (MoU) initially announced in July. The purchase agreement was signed in Manila by Mike Szucs, CEO of Cebu Paci... Read More »

Embraer signs cooperation agreement with Czech Ministry of Defence

Thursday October 3, 2024

Embraer has signed an ICA with the Czech Ministry of Defence

Embraer has signed an industrial cooperation agreement (ICA) with the Czech Ministry of Defence, marking a significant step in strengthening its long-term partnership with the Czech Republic. This strategic agreement aims to bolster local industrial and techno... Read More »

UrbanLink Air Mobility signs LOI for ten Alice electric aircraft

Thursday October 3, 2024

UrbanLink Air Mobility has signed an LOI to purchase ten Alice commuter aircraft © Eviation

Eviation Aircraft has announced that UrbanLink Air Mobility, a South Florida-based Advanced Air Mobility (AAM) company, has signed a letter of intent (LOI) to purchase ten Alice commuter aircraft, with an option for an additional ten. UrbanLink will incorporat... Read More »

ST Engineering, Akasa Air sign engine maintenance contract

Thursday October 3, 2024

Akasa Air and ST Engineering management at the signing ceremony

ST Engineering's Commercial Aerospace division has signed a 15-year maintenance, repair and overhaul (MRO) contract with Indian carrier Akasa Air, to provide MRO solutions for the LEAP-1B engines that power its Boeing 737 MAX fleet. As part of the agreement, S... Read More »

Stratos appoints Michihiro Enomoto as Head of Japan

Thursday October 3, 2024

Aircraft asset manager and investment specialist, Stratos, has reported that Michihiro Enomoto has joined its team as Head of Japan. Enomoto brings over 30 years of experience in project and structured finance, having previously worked at MUFG Bank, where he e... Read More »

Azerbaijan Airlines to lease six new Airbus aircraft from AerCap

Thursday October 3, 2024

Azal has signed lease agreements for six new Airbus aircraft to be delivered in 2026

AerCap has entered into lease agreements with Azerbaijan Airlines (AZAL) for six new Airbus CFM LEAP-powered aircraft, consisting of three A320neos and three A321neos, scheduled for delivery in 2026. The agreement was signed by Samir Rzayev, President of Azerb... Read More »

Lilium completes first systems power-on of Lilium Jet

Wednesday October 2, 2024

Lilium has achieved a major milestone with the successful completion of the first systems power-on test of its revolutionary all-electric Lilium Jet. This procedure, carried out on the first in-production Lilium Jet (MSN 1), marks a crucial step towards the ai... Read More »

Middle East flight disruptions impact regional and international airlines

Wednesday October 2, 2024

Dubai - United Arab Emirates © Shutterstock

Airlines across the Middle East are facing significant disruptions following the closure of key airspaces in response to escalating regional tensions. The closures came after Iran launched missile strikes on Israel. These developments have severely impacted th... Read More »