Air France KLM Pays €277 Million Debt, its Last Portion of Loans from the Netherlands Gov’t

French-Dutch airline, Air France KLM is repaying the last portion of loans it got from from the Netherlands government and banks to help it survive the COVID-19 pandemic.

The carrier is paying back 277 million euros to the government, the last outstanding loan out of a total of 942 million euros. KLM earlier this year paid back the rest of the loans to banks.

KLM slashed its workforce and cut costs to survive the pandemic and has seen air travel rebound since travel restrictions were eased, allowing it to fully pay back loans.

The airline says it still retains access to future credit, totaling 2.4 billion euros from the government and banks, but added that current forecasts show it has sufficient financial resources available for the years ahead.

In early June, the airline announced that it had raised $2.4 billion from a new capital increase, which was mostly to be used to pay back state aid.

See Also:

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