Air France KLM group reports net loss of €7.1 billion for 2020

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Air France KLM group today published its 2020 financial results with the coronavirus crisis clearly having an unprecedented impact on the group. In 2020, Air France KLM transported only 34 million passengers (down 67% compared to 2019). Travel restrictions and slow bookings turned those financial results in a operating loss of €4.5 billion and a huge net loss of €7.1 billion.

The Board of Directors of Air France-KLM, chaired by Ms. Anne-Marie Couderc, met on 17 February 2021 to approve the financial statements for the Full Year 2020. Group CEO Mr. Benjamin Smith said:

2020 tested the Air France-KLM Group with the most severe crisis ever experienced by the air transport industry. I would like to thank our employees for their dedication and tremendous flexibility during this period, which has allowed us to remain resilient despite an unprecedented drop in traffic.

Since the very beginning of the crisis, we set the highest standards of health and safety for our customers and our employees, all while being able to seize Cargo opportunities and continuously adapting our flight schedules in the face of ever-changing travel restrictions.
Thanks to the French- and Dutch state support and this agile way of working, we were able to drastically reduce our costs, protect our cash, and continue the execution of major transformation plans within our airlines, involving the efforts of all employees. In the coming months, we will continue to strengthen the Group’s core, improving its economic and environmental performance, so that Air France-KLM will be in a position to fully leverage all opportunities when the industry starts to recover.

We begin 2021 looking forward that this year will see an upturn in traffic as soon as vaccination is deployed on a large scale and borders once again reopen. Our customers look forward to being able to travel again and their attachment to Air France, KLM, and Transavia has grown stronger during this crisis.”

Press release in full.

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