Air France-KLM to Early Repay EUR1 Billion of French State-Backed Loan
07 Novembro 2022 - 2:55PM
Dow Jones News
By Giulia Petroni
Air France-KLM has reached an agreement with the French
government and a syndicate of nine banks to repay early 1 billion
euros ($996 million) of the EUR3.5 billion outstanding on its
French state-backed loan.
"The solid improvement in operating performance over the first
nine months of the year has allowed the group to accelerate the
repayment of financing received during the Covid-19 crisis," it
said.
The Franco-Dutch carrier said the amount includes EUR800 million
for settlement of the tranche maturing on May 6, 2023, and EUR200
million of the tranche maturing on May 6, 2024. The total
outstanding amount is now EUR2.5 billion.
This early repayment is set to improve the group's debt profile
by reducing financial costs and limiting exposure to floating
rates, according to the carrier.
In December 2021, Air France-KLM made an early repayment of
EUR500 million out of the initial EUR4 billion outstanding.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 07, 2022 12:40 ET (17:40 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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