KLM starts repaying State aid
KLM started this quarter by repaying some of the State Aid it received during the coronavirus pandemic. In the first three months of the year, the Dutch airline achieved an operational profit of 3 million euros, so it was able to repay 311 million euros of the loans in the government bailout, KLM said on Thursday.
In the first quarter, the airline had a turnover of 1.9 billion euros and an operating profit of 3 million euros. That is quite an improvement compared to the first quarter of 2021 when KLM suffered a loss of 377 million euros. Part of that is thanks to 140 million euros in wage support received in the first months of the year.
"These figures for the first quarter give cause for optimism," said KLM CEO Pieter Elbers, who is stepping down after this quarter. "Despite geopolitical tensions, high inflation, and rising costs, the recovery continues strong."
KLM also apologized for the chaotic conditions at Schiphol since the May vacation started almost two weeks ago. According to Elbers, the airline is taking "numerous measures" in terms of workload and operation "to ensure that the summer will be better than the situation in recent weeks."