1-Jul-2022 11:08 AM

KLM repays remaining Dutch government COVID-19 loan

KLM announced (30-Jun-2022) it repaid the final EUR277 million portion of the EUR942 million loan received from the Dutch Government during the COVID-19 crisis. The carrier highlighted the departure of 6000 staff members, cost reductions, removal of travel restrictions and rising demand enabled it to make bank loan repayments of EUR311 million and EUR354 million in May-2022 and Jun-2022, respectively. KLM announced it has "decided to retain access to future credit" and will have access to a credit facility of EUR2.4 billion, comprising a EUR723 million government loan and EUR1.735 billion from the banks, allowing it to make use of the existing financing options. [more - original PR]

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