Hit but not sunk. Hit hard by the Covid-19 pandemic, Air France is fighting on several fronts. Finance first. With the drastic drop in revenues, the company is concerned with avoiding a shortage of cash. The French and Dutch states, which each have nearly 14% of the capital of Air France-KLM, have put aside their differences over the governance of the group.
With the guarantee of the two countries, the group could, according to Reuters, obtain bank loans of 6 billion euros. Four billion for Air France guaranteed by France. Two billion for KLM guaranteed by the Netherlands. As indicated in Figaro Air France boss Anne Rigail, the group needs this call for air to get through the crisis. But also to prepare for the restart of activity in 2021 or 2022 which will be accompanied by consolidation in the sector. Without significant resources, Air France-KLM will be marginalized in the face of players like Singapore Airlines, bailed out to the tune of 13 billion