Ben Smith, CEO of airline Air France-KLM, does not think it is possible to return to the situation before the corona crisis within two years, he says in an interview with the French newspaper on Saturday Les Echos.
According to Smith, returning to the old situation is only possible in at least two years. He fears that it may take even longer to return.
Smith believes that the loans granted to Air France-KLM by the French and Dutch States will help keep the company afloat.
Infrastructure Minister Cora van Nieuwenhuizen and Finance Minister Wopke Hoekstra announced on Friday that the Dutch government will provide between EUR 2 and 4 billion in emergency aid to KLM. It concerns guarantees and loans. The exact shape and size are still being worked out.
A few hours earlier, the French government announced a total of EUR 7 billion for Air France. Both companies belong to the French-Dutch group Air France – KLM.
State aid “sign of confidence”
Smith calls government aid a “sign of confidence” in Air France-KLM’s future. The CEO believes that the amount is necessary to get through a difficult period in the coming months.
Air France-KLM, like the entire aviation sector, suffers from measures to combat the corona virus. More than 90 percent of the aircraft are grounded while costs continue.
Earlier this week, controversy arose around Air France-KLM and Smith. Initially, Smith gave the condition that the aid should depend on his bonus. That led to a lot of criticism, including from Hoekstra. Smith announced on Thursday that he was relinquishing his bonus for this year. He also delivers 25 percent of his fixed salary.
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