AF-KL secured 'up to 11 billion EUR' - part of that for Air France and the Paris-based holding Air France-KLM is already fully arranged: 7 billion. That's 4 directly for AF (incl. subsidiaries like hop) and 3 for the holding - both through the French government. But that doesn't include yet the support of the Dutch state for KLM, end of April already they made a principle agreemnt for 2-4 billion, but details are still being negotiated as the Dutch also attach it to a deal in terms of what needs to happen with KL staff etc.LJ wrote: ↑21 May 2020, 12:33Unless they don't need anything anymore from the Belgian government. If LH gets up to 9bn, then that's up to 2bn more than AF + KL needed combined. I doubt that the burn rate of AF+KL combined is almost equal to the burn rate of LH+EW combined, especially as LH has LH Cargo, which must be running well these days.
Also don't forget the LH Group is quite a bit bigger than AF-KL on several aspects, last year LHG had something like 9 billion EUR more in revenue than AF-KL. It also has much more staff (for a big part due to LSG and LH Technik, but also they are part of the group and heavily impacted). And anyway there are so many variables to compare, it's not as simple as saying AF and the AF-KL holding got 7 billion, so 9 for LHG should be enough.
Btw, despite its bigger size, I think LH was (at least relatively seen) lower on liquidity - for a big part because LH is purchasing most of its aircraft rather than leasing, much more than e.g. AF-KL and IAG. There's something to say for that strategy, but in a crisis like today where liquidity is key, that's not helping of course. LH might be in more need of short term cash, while being 'healthier' on the longer term.