Results Air France-KLM Group
On this page I will discuss the figures in more detail. The first signs of recovery are visible in passenger business. The results of the cargo division are again very strong. The operational result was better than last year. Or actually not as bad. In the 1st half of 2020 (1H 2020), the AFKL loss was still €2.4 billion. For the1st half of this year, the loss is €1.9 billion, of which €0.5 billion for KLM.
It is also important to mention that last period the AFKL group increased its share capital by €1 billion, to the benefit of Air France. Also, the €3 billion direct French government loan was converted into a perpetual hybrid tool, which counts towards equity.
KLM's capacity in the 2nd quarter of 2021 was almost four times higher than in the same period last year. KLM's turnover in the 2nd quarter was €1.2 billion, a considerable improvement of +72% compared to the same period last year.
The loss of €185 million was thus considerably less bad than in 2020 but still far from the pre-COVID-19 results.
Add to the loss in the 2nd quarter that of the 1st quarter (€337 million) and you arrive at a €522 million loss for the first six months of this year. It is not as bad as the loss of €768 million in the 1st half of 2020 but still far behind the profit of €223 million in the 1st half of 2019.