Welcome to our dedicated page for Air France Klm news (Ticker: AFLYY), a resource for investors and traders seeking the latest updates and insights on Air France Klm stock.
Air France-KLM (AFLYY) is a leading global airline group providing passenger, cargo, and maintenance services across international networks. This page serves as the definitive source for all official company announcements, offering stakeholders timely access to critical updates.
Investors and industry professionals will find curated press releases covering earnings reports, strategic partnerships, operational developments, and regulatory filings. The resource prioritizes accuracy and comprehensiveness, enabling informed decision-making without promotional bias.
Key content areas include financial performance disclosures, fleet expansion initiatives, sustainability efforts, and market expansion updates. Each announcement is verified at the source to maintain journalistic integrity and compliance with financial reporting standards.
Bookmark this page for streamlined access to Air France-KLM's evolving corporate narrative. Combine regular monitoring with independent research to maintain a balanced perspective on the company's trajectory within the aviation sector.
Air France-KLM and Air France have successfully renegotiated their Sustainability Linked Revolving Credit Facility, increasing it to €1.4 billion and extending its maturity to July 2028. Key improvements include:
- Maturity extended to July 2028 with a one-year extension option
- Increase from €1,290m to €1,405m
- Expanded lenders' pool from 16 to 17 banks
- Optimized financial conditions
This undrawn facility enhances the Group's liquidity management. KLM's separate €1.0 billion ESG-linked facility remains unchanged. The total Group Revolving Credit Facilities now amount to €2.4 billion, up from €2.3 billion previously, demonstrating strong confidence in the Group's financial stability.
Air France-KLM announced that the European Commission has reaffirmed the compliance of liquidity support measures provided during the Covid-19 crisis with EU State aid rules. These measures, which included State guaranteed loans and State loans from the French and Dutch governments, were fully repaid by June 2022 and April 2023, respectively. This decision does not affect the ongoing appeals in the Court of Justice of the European Union regarding previous judgments by the General Court of the EU, which annulled the initial decisions due to an incorrect determination of the aid beneficiary.
The press release provides an update on the total number of voting rights and shares for the company as of June 30, 2024, in accordance with French market regulations.
As of this date, the company reported having 262,769,869 shares outstanding.
The total number of theoretical voting rights, which include double voting rights, amounted to 360,723,054.
Air France-KLM and Transavia France are facing pressure on projected unit revenues for the summer season due to the upcoming Olympic Games in Paris. Traffic to and from Paris is lagging behind other European cities, with international markets avoiding the city and residents postponing their holidays. This has led to an estimated negative impact on unit revenues of €160m - €180m for June-August 2024. Despite this, the company has not adjusted its guided capacity. Demand is expected to normalize after the Olympics, with encouraging projections for late August and September.
The press release announces the updated total number of voting rights and shares for AFLYY as of May 31, 2024. The company reports 262,769,869 shares and a theoretical total of 290,243,169 voting rights. The theoretical voting rights include all voting rights, such as double voting rights.
On May 22, 2024, Air France-KLM announced the final results of its tender offer for two series of existing notes. The offer, launched on May 13, 2024, targeted €750 million in 1.875% notes due January 16, 2025, and €500 million in 3.875% notes due July 1, 2026. A total of €452.7 million, representing 36.2% of the outstanding notes, were tendered and accepted for purchase. After the completion of the tender offer, €515.2 million in 2025 notes and €282.1 million in 2026 notes will remain outstanding. The tender offer was funded by the issuance of €650 million in new notes with a 5-year maturity and a 4.625% annual coupon. This move is part of the company's strategy to manage its debt profile and extend its average maturity. The new notes are issued under Air France-KLM's €4.5 billion Euro Medium Term Note Programme.
On May 16, 2024, Air France-KLM announced an increase in the Maximum Acceptance Amount of its ongoing Tender Offer from €350 million to €450 million. This decision follows the successful issuance of new bonds on May 14, 2024, totaling €650 million with a 5-year maturity at a 4.625% coupon. The bond issuance attracted strong investor interest, with an orderbook exceeding €2.8 billion. The Tender Offer invites holders of €750 million 1.875% notes due January 2025 and €500 million 3.875% notes due July 2026 to tender their notes for cash.
Air France-KLM has successfully issued new bonds worth €650 million with a 5-year maturity and a 4.625% coupon.
The issuance, under its €4.5 billion Euro Medium Term Note Programme, saw strong demand, with an orderbook exceeding €2.8 billion, showcasing investor confidence. The new bonds are expected to be rated BBB- by Fitch and BB+ by S&P.
Proceeds will be used to refinance existing debt, including €750 million 1.875% notes due January 2025 and €500 million 3.875% notes due July 2026, and for general corporate purposes. An application for trading on Euronext Paris will be made.
Air France-KLM has announced a tender offer to repurchase two series of existing notes and intends to issue new notes. The company is offering to buy back €750 million 1.875% notes due in 2025 and €500 million 3.875% notes due in 2026. The proceeds from issuing new Euro-denominated notes will be used to refinance existing debt and for general corporate purposes. This move is part of the company's debt management strategy to extend its average maturity profile. The tender offer is conditional upon the pricing of the new notes. The expiration date for the offer is set for May 21, 2024, with results expected on May 22, 2024.
Air France-KLM has repaid the remaining €48 million of OCEANE 2026 bonds, reducing potential dilutive shares to zero. The company used the Clean Up Call Option to fully repay the outstanding convertible bonds. This move demonstrates financial stability and reduces future shareholder dilution.
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