Air France-KLM today announced the early repayment of €1 billion of the €3.5 billion outstanding on its French state-backed loan (“PGE”)

Air France-KLM today announced the early repayment of €1 billion of the €3.5 billion outstanding on its French state-backed loan (“PGE”)The solid improvement in operating performance over the first nine months of the year have allowed the Group to accelerate the repayment of financing received during the Covid-19 crisis. This early repayment will improve the Group's debt profile by reducing financial costs and limiting exposure to floating rates.Continuing the positive trend...

Paris, 07/11/2022 (informazione.it - comunicati stampa - turismo)

Air France-KLM today announ ced the early repayment of €1 billion of the €3.5 billion outstanding on its French state-backed loan (“PGE”)

Continuing the positive trend observed in the first half of 2022, Air France-KLM published its third-quarter financial results on Oct. 27th that confirmed the strong improvement of its revenues, operating result and adjusted operating free cash-flow, allowing the Group's net cash position to approach €9.8 billion.

In this favorable context, Air France-KLM has reached an agreement with the French state and the syndicate of nine banks participating in the PGE to proceed with the early redemption of €1 billion out of the €3.5 billion outstanding. This amount includes €800 million for settlement of the tranche maturing on May 6th, 2023, and €200 million of the tranche maturing on May 6th, 2024.

In December 2021, Air France-KLM had made an early repayment of €500 million out of the initial outstanding €4 billion. With this additional early repayment of €1 billion, the total outstanding amount of the PGE is reduced to €2.5 billion euros, with the following repayment profile:

Investor Relations                                                         

Frédéric Kahane                  Michiel Klinkers                                 

                                                     

frkahane@airfranceklm.com                        michiel.klinkers@airfranceklm.com

Website: www.airfranceklm.com

 

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