Air France CEO says revenue fell 70% in August

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An Air France jet taxis at a gate at Toronto Pearson International Airport.

Fred Lum / le Globe and Mail

Air France suffered a 70% drop in revenue in August when its international network was operating at around 30% of full capacity, its managing director told Italian newspaper Corriere della Sera.

The carrier, which is part of the Air France-KLM group, still burns 10 million euros in cash a day but is working to limit losses, CEO Anne Rigail said in an interview published Wednesday.

The airline group has formed a new transatlantic joint venture with Delta Air Lines and Virgin Atlantic, replacing a previous partnership that included Italy’s Alitalia.

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Rigail invited Alitalia, which is to be nationalized, to join the new group, even as a second tier member.

“Alitalia has been a long-standing partner and we will be offering them to join the joint venture as an associate member. I want to maintain a strong relationship with them, ”she said.

Rigail has ruled out an investment in Alitalia but has expressed interest in its offering of rapid tests for COVID-19 for passengers traveling on certain routes.

“Before we have a vaccine, we could reopen some routes with rapid tests like (Alitalia) knows in Milan and Rome,” she told the newspaper.

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