Welcome to our dedicated page for AIR FRANCE-KLM ADS news (Ticker: AFLYY), a resource for investors and traders seeking the latest updates and insights on AIR FRANCE-KLM ADS stock.
Air France-KLM (symbol: AFLYY) is a leading global airline company headquartered in France. The company operates through two main hubs, Paris-Charles de Gaulle (CDG) and Amsterdam Schiphol (AMS), offering a comprehensive network of passenger and cargo services.
Air France-KLM provides scheduled passenger air transportation, cargo transportation, and maintenance services. The company's fleet is one of the most modern and efficient in the world, ensuring safety, comfort, and sustainability. Recently, Air France-KLM announced the launch of a tender offer to repurchase two series of existing notes, aiming to optimize its debt profile. The notes involved are €750,000,000 1.875% notes due January 2025 and €500,000,000 3.875% notes due July 2026. This initiative is part of the company's strategy to manage its financial obligations dynamically.
The company also successfully issued new bonds totaling €650 million with a 5-year maturity, demonstrating strong investor confidence. These new bonds will help in refinancing part of the existing debt and supporting general corporate purposes. The bonds are expected to be rated BBB- by Fitch and BB+ by S&P.
Air France-KLM's ongoing projects emphasize sustainability and technological advancement, including fleet renewal programs and digital transformation initiatives. The company has established numerous partnerships to enhance its operational efficiency and expand its market reach.
With an extensive network and a strong commitment to innovation and sustainability, Air France-KLM remains a significant player in the global aviation industry. For more information about the company's latest news and financial performance, visit their website at www.airfranceklm.com.
This press release provides an official declaration of the number of voting rights and shares as mandated by L.233-8 II of the code of commerce and article 223-16 of the French market authority (AMF). As of May 31, 2021, the company reports a total of 642,634,034 shares with a theoretical number of voting rights amounting to 860,617,537, which includes double voting rights. This information is crucial for shareholders as it impacts their voting power in corporate matters.
Air France-KLM announced the retirement of Group CFO Frédéric Gagey, effective July 1, 2021, after 25 years of service. His successor, Steven Zaat, currently CFO of Air France, will take over on the same date. Gagey was credited with significant contributions during his tenure, particularly in navigating financial challenges. Zaat brings over 20 years of experience in the airline industry and has held various key finance roles within the group, making him well-prepared for his new position.
In the first quarter of 2021, Air France-KLM reported a significant decline in revenues, totaling €2.2 billion, a 57% drop year-over-year, largely due to ongoing travel restrictions resulting from the COVID-19 pandemic. The Group recorded an operating loss of €1.2 billion and a net loss of €1.5 billion, while net debt increased to €12.5 billion. Liquidity remains strong with €8.5 billion available. The company anticipates continued challenges in the near term but expects gradual recovery as vaccination efforts progress, particularly in the U.S., and plans to ramp up capacity during the second quarter.
This press release provides information on the total number of voting rights and shares as per French regulations. As of April 30, 2021, the company holds 642,634,034 shares, leading to a theoretical total of 860,617,915 voting rights, which includes double voting rights. This disclosure is essential for maintaining transparency with shareholders and adhering to compliance requirements set by the AMF.
The Air France-KLM Shareholders’ Meeting will be held on May 26, 2021, without physical attendance due to health crisis restrictions. Shareholders can vote online or by mail, with no admission cards issued. The meeting will be broadcast live on the company’s website, and a replay will be available afterward. Detailed participation procedures and information are accessible on the company’s website, adhering to French commercial regulations. Shareholders are encouraged to submit written questions in advance.
Air France-KLM has issued undated deeply subordinated notes totaling €3 billion as part of its recapitalization strategy, aimed at strengthening its equity without impacting cash flow. This issuance consists of three tranches of €1 billion each, with respective interest rates starting at 7.00%, 7.25%, and 7.50%. The notes, subscribed entirely by the French State, can be converted into equity under certain conditions, providing increased flexibility in debt repayment. This move enhances Air France's financial stability amid ongoing recovery efforts.
Air France-KLM successfully completed a capital increase of approximately €1.036 billion through a public offering without shareholders' preferential rights. The offering attracted strong investor demand, allowing full exercise of the increase option, with existing shareholders subscribing to 75% of the total amount. The funds will strengthen Air France's equity and enhance liquidity amidst the ongoing Covid-19 crisis. Following this capital increase, the company's share capital will total €642.6 million, with significant stakes held by the French State and China Eastern Airlines.
Air France-KLM has announced a capital increase through a public offering, setting the subscription price at €4.84 per new share. This price reflects a 9.98% discount on the average share price over the last three trading days. The capital increase aims to raise approximately €901 million, potentially up to €1,036 million if the increase option is fully exercised. The subscription period for existing shareholders starts today, April 13, 2021 and lasts until April 15, 2021. The company plans to issue up to 213,999,999 new shares.
Air France-KLM has announced a capital increase without preferential subscription rights, aiming to raise approximately €988 million, potentially increasing to €1,136 million if the full increase option is exercised. This move includes the issuance of up to 214 million new shares to existing shareholders. Proceeds will strengthen equity and consolidate liquidity amid the Covid-19 crisis. Additionally, the French State will subscribe to €3 billion in deeply subordinated notes as part of a recapitalization effort.
Air France-KLM announced the filing of its 2020 Universal Registration Document with the Autorité des Marchés Financiers (AMF) on April 7, 2021. The document is accessible in French on the AMF website and on the company’s own site under the Finance sections. An English version is also available. This document adheres to the European Single Electronic Format (ESEF) in XBRL and includes essential details like the Annual Financial Report, corporate governance reports, and Statutory Auditors' fees.
FAQ
What is the current stock price of AIR FRANCE-KLM ADS (AFLYY)?
What is the market cap of AIR FRANCE-KLM ADS (AFLYY)?
What services does Air France-KLM provide?
What recent financial actions has Air France-KLM taken?
How does Air France-KLM plan to use the proceeds from the new bonds?
What are the credit ratings for Air France-KLM's new bonds?
Where can I find more information about Air France-KLM?
What are Air France-KLM's main hubs?
How is Air France-KLM contributing to sustainability?
What is the significance of the recent bond issuance by Air France-KLM?
How much was the total principal amount tendered in Air France-KLM's recent offer?