Travel News – Despite fresh aid, Air-France KLM warns to deeper pain

Struggling airline Air France-KLM warned there was more pain to come — but is poised to seal another volley of state aid after recording a EUR 7.1bn net loss in 2020 owing to the Covid-19 pandemic, reports David Keohane for Financial Times. 

The airline, created in 2004 by the merger of France’s flag carrier with the Netherlands’ own champion, said on Thursday it expected fresh aid to finally land in the coming weeks after months of talks. The timing “is more a question of days and weeks than quarters, so we are confident”, said Frédéric Gagey, Group Chief Financial Officer, without being drawn on the size of the bailout involving “equity or quasi-equity”. 

The protracted talks, with its two largest shareholders, the…

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