Air France-KLM report $1.9 billion in losses, outlook grim

 Air France-KLM lost 1.8 billion euros ($1.9 billion) in first quarter, mostly just in a few weeks in March as travel restrictions grounded planes worldwide, and said Thursday that it will take several years to recover.

partner airlines, which have alrey won billions of euros of bailout loans from French and Dutch governments, forecast that second quarter will be far worse, with traffic down 95%.

Air France-KLM predicted a slow resumption of activity over summer, but estimated it would still be down 80% in third quarter compared to previous years.

In a statement, company forecast a “prolonged negative impact on passenger demand, t expected to recover to pre-crisis levels before several years.”

Air France-KLM anunced increased revenue in January and February, but n a big drop in March as countries closed borders and confined much of world’s population.

It reported 5 billion euros in revenue over quarter, down 15% from 2019. Profit for quarter was down 1.8 billion euros compared to a 324 million euro loss in first quarter of 2019.

Like airlines around world, Air France-KLM is working to ensure virus protections in its planes, in hopes of persuing people to resume flying once travel restrictions are lifted.