E2.6b loss for Air France-KLM in virus-hit Q2

Air France-KLM on Thursday announced a Q2 loss of E2.6b, thanks to grounded flights during the virus pandemic, adding that the twin airlines must "significantly reduce" the workforce. "Activity levels were close to zero in April and May 2020," compared to last year, rising to just eight percent in June as government progressively eased their COVID-19 lockdown rules, the Franco-Dutch airline group said in its report. "Nevertheless, there is limited visibility on the demand recovery curve as customer booking behaviour is much more short-term oriented than before the Covid-19 crisis, especially on the Long Haul network," the report cautioned. Group CEO Benjamin Smith said: "The second quarter results demonstrate the unprecedented impact of the COVID-19 crisis on the activity of the Air France-KLM Group and of all airlines worldwide". Air France-KLM had already posted an operating loss of E1.5b euros for the quarter. "The exceptional support of the French and Dutch governments has provided Air France-KLM with the liquidity needed to weather the crisis and ensure a gradual recovery in business," along with cost-cutting measures, Smith added.<br/>