Home Business & Finance KLM announces first quarter results (Q1) 2020

KLM announces first quarter results (Q1) 2020

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AMSTELVEEN: As a consequence of the Covid-19 outbreak, KLM is currently navigating a storm of unprecedented severity, as reflected in the figures for the first quarter of 2020. While the first two months started positively, the downturn from the start of March has been enormous. In the course of March, most of the fleet was grounded and the number of flights operated was reduced to less than 10% compared to the situation before Covid-19. KLM therefore generated a Q1 loss of €275 million compared to a loss of €47 million in the same period last year.

At the same time, we are proud that – as KLM – we have in recent weeks contributed significantly towards repatriating hundreds of thousands of Dutch citizens from elsewhere in the world, as well as carrying essential medical relief supplies to the Netherlands by operating (addition) cargo flights.

In recent weeks, KLM has adopted numerous measures in an effort to compensate for the consequence of this crisis in relation to the medical, operational, personnel and financial fields. This week, a number of initial flights were cautiously added and supplementary measures were taken in relation to facial protection to additionally guarantee the safety of both customers and staff.

As a result, KLM is now operating 15% of its original scheduled network. KLM is now also taking all possible measures to be in a position to once again operate a large proportion of its network later this year. Expectations are that it will nonetheless take a long time for KLM and Transavia to recover.

Also on behalf of all my KLM colleagues, I would like to express my enormous gratitude and appreciation for the unwavering support received from the Dutch government. KLM hopes to continue to play an important social role in Dutch society in the future, and will emphatically continue to pursue its ambitions, leading the field in terms of sustainability and innovation. The Netherlands can count on our full commitment and contribution towards achieving these ambitions.” KLM President & CEO Pieter Elbers said. BIZ TODAY MONITOR

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