AMSTERDAM - The chief executive of KLM, the Dutch subsidiary of Air France-KLM said on Thursday the company does not expect further pandemic job cuts and does not need an additional cash infusion.
Speaking to reporters after Air France reported a first-quarter operating loss of 1.18 billion euros ($1.42 billion), Pieter Elbers said KLM remains in talks with the European Union over conditions attached to transforming state loans into equity but its cash position is sufficient for now.
"We now have a size that's adequate for the recovery (expected) in the course of this year," Elbers said.
KLM cut 5,000 jobs in 2020 and an additional 1,000 in January.
The company employed around 30,000 before the pandemic began. urn:newsml:reuters.com:*:nL1N2JW1MV
(Reporting by Toby Sterling; editing by Jason Neely) ((email@example.com; +31 20 504 5002;))