The aviation group Air France-KLM has announced that the state loan granted by the French government in the wake of the Covid 19 pandemic has been repaid in full. 2,5 billion euros were still open.

France granted Air France a state-guaranteed loan of four billion euros. There were also grants, compensation and loans granted to KLM by the Netherlands. Most recently, the French airline was still hoping for around 2,5 billion euros. This has now been repaid, the company said in a statement.

According to Air France-KLM, strong sales, improved operating results and eventually a profit at the end of 2022 left the group with €10,6 billion (US$11,2 billion) in cash and cash equivalents. Additionally, the €1 billion ($1,06 billion) proceeds from the sustainability bond issued in January 2023 enabled the airline group to "accelerate and complete the full repayment of outstanding PGEs."

"This full repayment will help smooth the group's debt profile, reduce financial costs and limit residual exposure to variable interest rates, and represents a final step towards full repayment of the current French government liquidity support," Air said -France-KLM in its filing on March 15, 2023.