KLM to wet-lease two E190s

Air France-KLM confirms extra €1.5bn Apollo financing

Air France-KLM and private equity firm Apollo Global Management announced on November 30 that they had completed the transaction for a total amount of EUR1.5 billion euros (USD1.63 billion) in financing for a dedicated operating affiliate of the Air France (AF, Paris CDG) and KLM Royal Dutch Airlines (KL, Amsterdam Schiphol) parent.

The move followed the signing on October 26 of a definitive agreement between the parties, which in turn followed an initial announcement about the funding talks in late July. That explained that the quasi-equity financing is for a new subsidiary that “will hold the trademark and most of the commercial partner contracts related to Air France and KLM Royal Dutch Airlines’ joint loyalty programme Flying Blue.”

The latest statement said that the financing is accounted for as equity under International Financial Reporting Standards (IFRS), and “as announced by Air France-KLM during its Q3 2023 results, this outcome materialises the steps implemented by the group to restore its IFRS equity to positive by year-end.”

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US hits back over Schiphol slot constraints

In a retaliatory move, the US Department of Transportation has hit back at the Dutch government's decision to proceed with slot constraints at Amsterdam Schiphol by ordering Dutch carriers KLM Royal Dutch Airlines, Martinair (Netherlands), and TUI fly (Netherlands) to file schedules for all their services to/from the United States within seven days for re-consideration.

The November 2 order came in response to what the DOT labelled the Dutch government's "unlawful experimental regulation" being implemented when Airport Coordination Netherlands (ACNL), on the same date, reduced or denied slot holdings at Schiphol for the IATA Summer 2024 season (end of March to October 2024). Consequently, Airlines for America (A4A) member carriers lost 339 historic slots at Schiphol, while airlines without historical slot allocations, such as JetBlue Airways (B6, New York JFK), have been denied slots entirely for the 2024 summer season.

The DOT order formally approves a joint complaint of members of the A4A and JetBlue against the Dutch government's controversial plan to cap capacity to reduce noise and emissions at...