AFI KLM E&M has lost 42% of its external revenue in 2020 |
| Emilie Drab |
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25 FEB 2021 | 144 words
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The MRO division of Air France-KLM Group has also suffered greatly from the crisis. AFI KLM E&M lost 42% of its external revenue, which fell to 1.25 billion euros in 2020.
Operating result turned negative by 543 million euros, while it was positive at 260 million euros in 2019.
The group was obliged to provision 320 million euros for exceptional items, related to bad debts (120 million euros), provisions on assets value (110 million euros) and contract revisions (90 million euros).
The orderbook lost $ 2.4 billion in value, falling to $ 9.1 billion.
While the outlook for the MRO sector is just as uncertain as that for passenger traffic, AFI KLM E&M remains optimistic in the long term, being well positioned on the maintenance of new generation aircraft.
Air France-KLM published a net loss of 7.1 billion euros in 2020, deeply impacted by the Covid-19 crisis.
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Emilie Drab
Assistant editor
Civil aerospace, Air transport
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