Apollo enters exclusive discussions to provide a €1.5 billion capital solution to Air France-KLM’s Flying Blue Loyalty program with commercial partners

Rhea-AI Summary

Apollo is in exclusive discussions to provide a €1.5 billion financing for Air France-KLM's Flying Blue Loyalty program. This partnership aims to strengthen Air France-KLM's balance sheet and support its Loyalty program. Apollo has previously arranged investments for Air France-KLM entities in the past year.

NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that it has entered into exclusive discussions regarding a €1.5 billion financing for Air France-KLM’s Flying Blue Loyalty program with commercial partners.

The bespoke transaction, part of Apollo’s high-grade partnerships, would provide one of the world’s leading airlines with a custom capital solution to further strengthen its balance sheet and support its leading Loyalty program with commercial partners.

Apollo Partner Jamshid Ehsani said, “Apollo is very pleased to enter into exclusive discussions with Air France-KLM, deepening our partnership with one of the world’s leading airlines. The contemplated transaction highlights our ability to work with companies as long-term partners to provide creative, scaled capital solutions that are responsive to their unique needs.”

The transaction discussions follow two previous Apollo-arranged investments for Air France-KLM entities in the past 12 months, demonstrating Apollo’s role as a responsive and repeat financing partner to some of the world’s leading companies.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

What is the financing amount Apollo is discussing with Air France-KLM?

Apollo is discussing a €1.5 billion financing with Air France-KLM.

What is the purpose of the financing for Air France-KLM?

The financing aims to strengthen Air France-KLM's balance sheet and support its Flying Blue Loyalty program.

Has Apollo worked with Air France-KLM before?

Yes, Apollo has previously arranged investments for Air France-KLM entities in the past 12 months.