Air France-KLM Warns of Bigger Losses Amid Lockdowns

Air France-KLM unveiled a 1.05 billion-euro ($1.24 billion) quarterly operating loss and warned of worse to come as a resurgent coronavirus brings new travel curbs, Reuters reported. Shares in the Franco-Dutch airline group fell after it reported a 67% drop in third-quarter revenue to 2.52 billion euros on Friday, as France returned to full lockdown for at least a month. New COVID-19 outbreaks pose a threat to network airlines already weakened by the crisis and long-haul travel collapse. “The gradual closure of international borders in the second half of August and the resurgence of the pandemic strongly impacted our results,” Chief Executive Ben Smith said. Read more

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