“It’s not a given,” Hoekstra told the NPO television station about the survival of the airlines. He added that it is necessary to reduce costs.
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At the end of July, the airlines reported a net loss for the second quarter of 2.6 billion euros (69 billion crowns), because in April and May they almost did not fly. Already in the first quarter, the loss was 1.8 billion (48 billion crowns).
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The states of France and the Netherlands, which each own 14 percent of the shares, have already poured millions of euros into the airline in order for their flag carriers Air France and KLM to survive. Paris provided the company with loans worth seven billion euros, the Dutch state then 3.4 billion.
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According to Hoekstra, the loans must be accompanied by a restructuring plan and a commitment to maintain the airlines’ performance and competitiveness. Air France said it would lay off 7,600 employees and KLM another 5,000 by the end of 2022.
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The Dutch finance minister has already told the management of KLM airlines that it is important for the company to change its focus. KLM is due to present a restructuring plan on October 1.
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Air traffic has been hit extremely hard by the pandemic and some airlines have already gone bankrupt, hitting Virgin Australia and Virgin Atlantic in particular.
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