Air France-KLM Group draws down revolver for €1.1 billion

By Sarah Lizee

Olympia, Wash., March 13 – Air France-KLM Group announced that it has drawn down its revolving credit facility for a total amount of €1.1 billion.

“From the start of the Covid-19 crisis, the Air France-KLM Group implemented measures to protect its passengers and employees, but also to limit the impact of the virus on its profitability and preserve its financial flexibility,” the company said in a news release.

The two €550 million tranches are renewable successively at the request of Air France-KLM for periods of one, three or six months until Nov. 6, 2022.

The group now has more than €5.5 billion of total liquidity immediately available to meet possible changes in the environment.

The airline is based in Roissy, France.

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