Air France-KLM has reported a Q1 net loss of €1.8 billion. Highlights of its Q1 2020 report are detailed below.
Air France Airbus A350-900. Photo by Air France.
Air France says it will defer deliveries for 3 Airbus A350-900s to 2021. Furthermore, the Air France-KLM Group expects to lose €400 million per month during Q2 of 2020.
Capacity for Q2 is expected to be down 95% on the same period in 2019, with Q3 expecting an 80% reduction.
Similarly to IAG, Air France-KLM expects a more significant operating loss for Q2 2020.
Air France recorded a €536 million operating loss, while KLM recorded a €275 million operating loss.
Finally, the group says it does not expect demand to recover “before several years”. Capacity in 2021 will be down at least 20%, Air France-KLM says.