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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Air France-KLM    AF   FR0000031122

AIR FRANCE-KLM

(AF)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 06/04 01:33:52 am
4.911 EUR   +0.88%
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06/02KLM to increase flights to southern Europe holiday hot spots in July
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Air France KLM : France builds 20 billion euro fund to help recapitalise 'national champions'

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04/10/2020 | 06:20am EDT
FILE PHOTO: French Finance Minister Bruno Le Maire and Dutch Finance Minister Wopke Hoekstra attend a joint news conference at the Bercy Finance Ministry in Paris

The French government has set aside 20 billion euros ($21.7 billion) to help inject capital into big companies struggling to survive the coronavirus crisis, Finance Minister Bruno Le Maire said on Friday.

Le Maire has repeatedly pledged to help France's corporate champions get through the coronavirus crisis by taking stakes in them or even going as far as nationalisation if necessary.

"We've decided to put credit on the fund, to put 20 billion euros on the special fund to support to the capital of companies that need it, whether public or private," Le Maire said on Europe 1 radio.

The funds are earmarked in a package of crisis measures that Le Maire more than doubled on Thursday to 100 billion euros and which is set to go to parliament next Wednesday for approval.

First on the list of companies that may need state funds is Air France KLM, which said on Thursday it expected the French and Dutch states to help meet its cash needs with air travel at a standstill.

"As regards Air France, we are ready for when the time comes, without a doubt soon, to support Air France and make sure that this French industrial champion ... recovers quickly," Le Maire said.

Sources have told Reuters that Air France-KLM is in talks with banks to receive up to 6 billion euros in loans guaranteed by the French and Dutch governments, a sum which the junior transport minister has described as "not unrealistic".

Meanwhile, other companies whose business activity has ground to a halt are seeking to tap bank credit first rather than rushing to the state for new capital.

Renault Chairman Jean-Dominique Senard said on Friday that the carmaker, in which the French state has a 15% stake, could seek bank loans worth 4-5 billion euros.

(Reporting by Leigh Thomas. Editing by Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 10.11% 4.868 Real-time Quote.-50.95%
RENAULT 10.49% 23.965 Real-time Quote.-43.18%
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Latest news on AIR FRANCE-KLM
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Financials
Sales 2020 12 460 M 13 969 M 13 969 M
Net income 2020 -3 318 M -3 720 M -3 720 M
Net Debt 2020 10 890 M 12 209 M 12 209 M
P/E ratio 2020 -0,60x
Yield 2020 -
Capitalization 2 081 M 2 337 M 2 333 M
EV / Sales 2019
EV / Sales 2020 1,04x
Nbr of Employees 85 394
Free-Float 49,7%
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Technical analysis trends AIR FRANCE-KLM
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Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 4,32 €
Last Close Price 4,87 €
Spread / Highest target 105%
Spread / Average Target -11,2%
Spread / Lowest Target -79,5%
EPS Revisions
Managers
NameTitle
Benjamin M. Smith Chief Executive Officer & Director
Anne-Marie Couderc Non-Executive Chairman
Frédéric Gagey Chief Financial Officer
Jean-Christophe Lalanne Executive Vice President-Information Technology
Maryse Aulagnon Independent Director
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