Air France-KLM, strong growth results in the 3rd quarter

Air France KLM strong growth results in the 3rd quarter

(Finance) – Air France-KLM closed the third quarter of the year with a net profit of 900 million euros, up from 500 million the previous year. In the quarter the partner has carried 26.9 million passengersup 7.6%, while i revenues increased by 7% to 8.7 billion euros and the operating result at 1.3 billion.

“Air France-KLM has registered a solid quarter, characterized by notable results. This performance was driven by the strong summer demand“, explained the CEO Benjamin Smith, adding “we also made significant progress on our sustainable strategic roadmap during the quarter.” Air France-KLM in fact intends to carry out a radical renewal of the fleeta and performed a maxi order of 50 Airbus A350sa more fuel efficient and quieter aircraft.

The company yesterday also announced that it had reached aagreement with Apollo Global Management for a loan of 1.3 billion euros, accounted for as quasi-equity, with the possibility for Apollo to increase the nominal amount up to €1.5 billion in total, before closing. An operating affiliate of Air France-KLM will own the brand and the majority of commercial partner contracts related to the Flying Blue loyalty program. Apollo-managed funds will subscribe to perpetual bonds issued by this dedicated operating affiliate. The financing will be accounted for as equity according to IFRS and will not have dilutive effects for shareholders.

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