KLM seals financial deal to secure company future

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July 8, 2020

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KLM seals financial deal to secure company future

Source: Shanghai Daily | 00:05 UTC+8 July 8, 2020 |

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KLM has secured a financial deal for 3.4 billion euros (US$3.7 billion) to cope with the difficult post-pandemic period and to secure the future of the company.

COVID-19 has caused aviation to come to a worldwide standstill in recent months. The pandemic has had an unprecedented impact on KLM Group’s activities, the airline said. KLM has taken a large number of measures to maintain liquidity shortly after the outbreak, but still needs additional financing in the coming period.

The conditions imposed by the Dutch state on the financing package relate to the entire KLM Group and include terms of employment of all KLM Group employees, the variable remuneration of management and top management, restructuring, dividend, governance, network quality, sustainability and liveability.

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KLM seals financial deal to secure company future

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