KLM boss sees no need for further pandemic job cuts, cash infusion

FILE - In this Sept. 30, 2003 file photo, an Air France jumbo jet rolls behind the tail of a KLM Royal Dutch airliner at Charles de Gaulle airport in Roissy, north of Paris. Air France-KLM plunged to a 7.1 billion euro ($8.5 billion) loss in 2020 as the global pandemic grounded planes and halted travel plans worldwide causing a 67% slump in passenger numbers at the French-Dutch aviation giant.

The chief executive of KLM, the Dutch subsidiary of Air France-KLM (AIRF.PA) said on Thursday the company does not expect further pandemic job cuts and does not need an additional cash infusion.

Speaking to reporters after Air France reported a first-quarter operating loss of 1.18 billion euros ($1.42 billion), Pieter Elbers said KLM remains in talks with the European Union over conditions attached to transforming state loans into equity but its cash position is sufficient for now.

“We now have a size that’s adequate for the recovery (expected) in the course of this year,” Elbers said.

KLM cut 5,000 jobs in 2020 and an additional 1,000 in January.

The company employed around 30,000 before the pandemic began.

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