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

AIR FRANCE-KLM

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EU lawmakers back aid for virus-hit economy in remote vote

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03/26/2020 | 06:14pm EDT
Special session of EU Parliament on coronavirus disease (COVID-19) in Brussels

European Union lawmakers approved on Thursday emergency funds to cushion the bloc's economic slump triggered by the coronavirus pandemic and shore up battered airlines by preserving their landing slots.

Members of the European Parliament (MEPs) gave near unanimous support for three sets of proposals at the conclusion of a session that spanned more than 12 hours.

It was the parliament's first ever remote vote following the suspension of meetings due to the risk of coronavirus transmission. Only a handful of lawmakers gathered in the Brussels plenary chamber with the most of the 688 participating MEPs scattered under lockdown across Europe.

"From one day to the next, our lifestyles changed. Our streets emptied. Our doors closed. And we moved from a daily routine to the fight of our lives," the head of the EU executive, Ursula von der Leyen, told the gathering.

Wearing white, latex protective gloves, she called on the chamber to vote into law a special 37-billion-euro (33.5 billion pounds) fund to allow the 27 member states to spend more to prop up their economies.

The legislation will also allow an existing natural disaster fund to support strained public health services across the EU.

The assembly also supported the suspension of a rule that strips airlines of their landing slots if they do not run most of their scheduled services - so as to ease an industry crisis unleashed by the coronavirus pandemic.

After holding two test votes earlier in the week, members of the EU legislative arm had to print ballot forms at home, scan or photograph their signed votes and send them from their official email address for counting.

"Democracy cannot be stopped by this virus," David Sassoli, the Italian president of the parliament, who appeared in the chamber in Brussels for the briefest of periods to announce the results of the votes.

By Marine Strauss

Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 1.35% 4.972 Real-time Quote.-49.90%
EASYJET PLC -4.47% 475 Delayed Quote.-66.66%
LUFTHANSA GROUP AG -0.33% 7.95 Delayed Quote.-51.55%
NORWEGIAN AIR SHUTTLE ASA -5.40% 8.3 Delayed Quote.-78.01%
RYANAIR HOLDINGS PLC 0.21% 8.588 Delayed Quote.-41.30%
WIZZ AIR HOLDINGS PLC 0.28% 2168 Delayed Quote.-44.34%
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Financials (EUR)
Sales 2020 20 855 M
EBIT 2020 -890 M
Net income 2020 -649 M
Debt 2020 8 053 M
Yield 2020 0,12%
P/E ratio 2020 -2,61x
P/E ratio 2021 3,64x
EV / Sales2020 0,49x
EV / Sales2021 0,38x
Capitalization 2 097 M
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Mean consensus HOLD
Number of Analysts 20
Average target price 6,82  €
Last Close Price 4,91  €
Spread / Highest target 169%
Spread / Average Target 39,0%
Spread / Lowest Target -79,6%
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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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CHINA EASTERN AIRLINES CORPORATION LIMITED-1.43%8 303