The airline sector is doing well, thanks to the return of summer demand. This is the case for the British carrier IAG, parent company of British Airways, but also of the Spanish company Iberia, or even Air France-KLM. The Franco-Dutch group is back to profit due to the increase in leisure travel. Revenues are back to pre-pandemic levels.
Air France-KLM is taking advantage of the summer period, with more than eight billion euros in revenue, a jump of more than 77%.
Very solid results, which generated a net profit of 460 million euros. And good news for the group, which wants to reduce its debt.
Air France-KLM will thus be able to repay in advance next month one billion euros in loans guaranteed by the French State, out of three and a half billion still due.
Saved from bankruptcy by the French and Dutch states, and after two recapitalizations, the group emerged more profitable from the Covid-19 crisis.
A cost reduction plan was however necessary with cuts in the workforce. And rising fuel prices have forced the airline to raise fares.
One downside: if the links with North America have been running at full speed, activity is stagnating on the side of Asia, because of the persistent closure of China.
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