Air France KLM - KLM state aid

Rhea-AI Summary

Air France-KLM and KLM are assessing the implications of the annulment of a 2021 Commission decision approving Dutch State aid measures during the Covid-19 crisis. They are considering whether to lodge an appeal on points of law before the Court of Justice of the European Union. Both companies have fulfilled all exit requirements of State aid granted under the Covid-19 Temporary Framework for State aid. KLM fully repaid the loans granted under the framework in June 2022.

Positive

• None.

Negative

• The annulment of the 2021 Commission decision could potentially have negative legal and financial implications for Air France-KLM and KLM. The need to consider lodging an appeal may result in prolonged legal proceedings and uncertainty. The ongoing assessment of implications may lead to additional legal expenses and resource allocation.

Paris, February 8, 2024

Air France-KLM and KLM take note of the judgment of the General Court of the European Union rendered on February 7th, 2024, annulling a 2021 Commission decision which approved various Dutch State aid measures during the Covid-19 crisis.

Air France-KLM and KLM will carefully study this judgment and assess its implications. They will consider whether to lodge an appeal on points of law before the Court of Justice of the European Union.

Air France-KLM reminds that KLM has fully repaid the loans granted under the Covid-19 Temporary Framework for State aid in June 2022, and that Air France-KLM complied with and fulfilled all exit requirements of all State aid granted under the Covid-19 Temporary Framework for State aid on April 19, 2023.

Investor Relations                                                        

Michiel Klinkers                        Marouane Mami                                                            

michiel.klinkers@airfranceklm.com        marouane.mami@airfranceklm.com

Website: www.airfranceklm.com

 

Attachment

• Air France KLM - KLM state aid

What is the implication of the annulment of the 2021 Commission decision on Air France-KLM and KLM?

The companies are carefully studying the judgment and assessing its implications, considering whether to lodge an appeal on points of law before the Court of Justice of the European Union.

When did KLM fully repay the loans granted under the Covid-19 Temporary Framework for State aid?

KLM fully repaid the loans in June 2022.

What are the contact details for Air France-KLM Investor Relations?

Investor Relations can be reached at michiel.klinkers@airfranceklm.com and marouane.mami@airfranceklm.com.

What is the website for Air France-KLM?

The website is www.airfranceklm.com.