{"id":381483,"date":"2020-10-31T10:04:56","date_gmt":"2020-10-31T04:34:56","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=381483"},"modified":"2020-10-31T11:58:17","modified_gmt":"2020-10-31T06:28:17","slug":"air-france-klm-warns-of-bigger-losses-amid-lockdowns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/air-france-klm-warns-of-bigger-losses-amid-lockdowns\/","title":{"rendered":"Air France-KLM warns of bigger losses amid lockdowns"},"content":{"rendered":"<p>Air France-KLM unveiled a 1.05 billion-euro ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs. The Franco-Dutch airline group reported a 67% drop in third-quarter revenue to 2.52 billion euros on Friday, as France returned to full lockdown for at least a month.<\/p>\n<p>New COVID-19 outbreaks pose a threat to network airlines already weakened by the crisis and long-haul travel collapse. &#8220;The gradual closure of international borders in the second half of August and the resurgence of the pandemic strongly impacted our results,&#8221; Chief Executive Ben Smith said.<\/p>\n<p>Air France-KLM has 12.4 billion euros in liquidity, thanks largely to a French and Dutch government-backed bailout, a cash cushion comparable to those of European peers Lufthansa and IAG. Net debt increased by 1.34 billion euros in the quarter to 9.31 billion as of Sept. 30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Air France-KLM unveiled a 1.05 billion-euro ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs. The Franco-Dutch airline group reported a 67% drop in third-quarter revenue to 2.52 billion euros on Friday, as France returned to full lockdown for at least a month. New COVID-19 outbreaks pose a threat to network airlines already weakened by the crisis and long-haul travel collapse. &#8220;The gradual closure of international borders in the second half of August and the resurgence of the pandemic strongly impacted our results,&#8221; Chief Executive Ben Smith said. Air France-KLM [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-381483","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=381483"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381483\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=381483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=381483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=381483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}