Air France-KLM announces capital increase of one billion euros

Air France-KLM has announced the “success” of a capital increase that allowed it to raise 1.036 billion euros which sees the French State’s stake in the airline double to 28.6 percent. Air France-KLM CEO Ben Smith said that the success of the company’s capital increase testifies to the confidence of investors in the prospects of the group, whose financial solidity has been strengthened by these initial recapitalisation measures. Air France will use the allocated amount to consolidate its liquidity and finance general corporate purposes in the context of the Covid-19 crisis.