Air France Klm Stock Price, News & Analysis

Air France-KLM has officially filed its 2022 Universal Registration Document with the Autorité des Marchés Financiers (AMF) on April 24, 2023.

The French version can be accessed on the AMF website and on Air France-KLM’s own site, while the English version is also available on their website.

This document is formatted in European Single Electronic Format (ESEF) and includes key sections such as the Annual Financial Report, corporate governance insights, and statutory auditor reports.

Air France-KLM has successfully exited the French Recapitalization State Aid under the EU Covid-19 Temporary Framework. The airline repaid €300 million in hybrid perpetual bonds and compensated the French State for shares subscribed in 2021, totaling €407 million. This exit eliminates previous restrictions tied to the aid. The Group refinanced its obligations via a new issuance of hybrid perpetual bonds with similar terms and no restrictions, assimilated into the previously issued €320 million bonds. CEO Benjamin Smith heralded this development as a crucial milestone, highlighting the airline's ongoing transformation and commitment to sustainability.

The press release presents data concerning the voting rights of shareholders as of March 31, 2023, in compliance with L.233-8 II of the French commerce code. It details that the total number of shares is 2,570,536,136, while the theoretical number of voting rights, including double voting rights, stands at 2,792,620,205.

This information is essential for investors and stakeholders to gauge the voting power within the company.

Air France-KLM Group has rescheduled its First Quarter 2023 financial results release to May 5, 2023, before market opening, from the originally planned date of May 4, 2023. This change is due to calendar constraints. All other dates in the financial calendar remain unchanged and are accessible through the company's investor relations page.

Air France-KLM has repaid €300 million of perpetual hybrid bonds held by the French State, surpassing the 75% threshold of Covid-19 recapitalization aid redemption. This repayment is a major step toward fully exiting the Covid-19 state aid program. The company also announced plans to refinance €320 million via new perpetual hybrid bonds issued to the French State, which will not have any associated restrictions. This refinancing aligns with the European Commission's approval of compensation aid granted to Air France without any bans.

Air France-KLM has announced the full repayment of its €2.5 billion bank loan guaranteed by the French State, marking the completion of the liquidity support measures initiated during the Covid-19 crisis. This repayment was facilitated by a solid cash position and €1 billion raised through a Sustainability-Linked Bond issued in January 2023. The Group's cash reserves stood at €10.6 billion at the end of 2022, contributing to a strong operational performance with improved revenues and net income. The repayment is expected to enhance the Group's debt profile, reduce financial costs, and decrease exposure to floating rates.

The latest press release provides essential information regarding the voting rights for the company as of February 28, 2023. As reported, the total number of shares stands at 2,570,536,136, leading to a theoretical number of voting rights of 2,792,622,176, which includes double voting rights. This data is critical for shareholders and potential investors in understanding their voting power within the company, as mandated by L.233-8 II of the French commercial code and article 223-16 of AMF regulations.