News / Cargo the star performer, but Air France-KLM results make sober reading

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Have there ever been as many brackets, denoting year-on-year declines, as there will be in airlines’ financial results this year?

And the numbers are big: Air France-KLM has just announced its 2020 results, which make for rather sobering reading.

Its ebitda loss was a mammoth €1.7bn ($2.05bn), on revenues down nearly 60%, at €11.1bn. Net debt is €11bn, up €4.9bn from the end of 2019.

There was, of course, some better news. Cargo was the star performer, making most flights cash-positive.

While capacity over ...