KLM repays last part of loan to Dutch state | Financial

To guide KLM through the corona crisis, the company was promised €3.4 billion in aid. KLM has used 942 million euros of this. In previous tranches, the company has already repaid €€311 million and €354 million. In a statement, KLM says it is very grateful to the Dutch government and banks for the support offered during the corona crisis.

Because of the state aid, the company was subject to strict conditions. It was previously announced that KLM must do much more to structurally reduce costs. Society must also work to prevent tax evasion by staff living abroad. This can be done by raising the threshold for commuting. This was stated in a cabinet letter about the findings of state agent Jeroen Kremers, who monitors compliance with the agreements with KLM as part of the corona support package.

KLM says it has taken various measures to reduce costs. For example, 6000 employees left and other costs were also greatly reduced. With the disappearance of travel restrictions and the increasing demand for airline tickets, KLM was able to make two installments earlier this year. Departing KLM CEO Pieter Elbers speaks of a crown on the work for all KLM employees. His successor Marjan Rintel, who will start her new job on 1 July, also speaks of an important step.

In the letter, Ministers Sigrid Kaag (Finance) and Mark Harbers (Infrastructure) state that KLM will continue to adhere to the agreements on finance, sustainability and quality of life after repayment of the aid. Incidentally, this would not be part of the formal agreements with KLM. Kremers wrote earlier that almost all obligations expire as soon as the loan has been repaid and the guarantee on bank loans has been terminated. That had to be at the latest by the end of 2025, but it happened earlier.

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