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Air France-KLM Slashes Year-End Capacity on Pandemic Surge

  • Carrier blames new lockdown in France taking effect on Friday
  • Fourth-quarter earnings expected to be substantially lower
Leisure travel had picked up for Air France-KLM and its peers during the summer months when infection levels dropped. But the surge in cases since then has put the brakes on any recovery.

Leisure travel had picked up for Air France-KLM and its peers during the summer months when infection levels dropped. But the surge in cases since then has put the brakes on any recovery.

Photographer: Nathan Laine/Bloomberg
Updated on

Air France-KLM will slash its schedule this quarter as European governments implement tough new measures to combat a resurgence of Covid-19 infections.

The shares fell after Air France-KLM said Friday that its French arm will offer less than 35% of year-ago capacity and KLM about 45%. That’s well below a previous forecast of 65% for the Paris-based group.