newsycanuse

KLM opens new credit facility linked to ESG objectives

Credit

KLM has opened a new revolving credit facility (RCF) with a syndicate of 14 international banks. This relates to an amount of 1 billion for a term of four years, with an option to extend for a further two years. KLM is therefore closing the direct loan and credit facility guaranteed by the Dutch government as of the same date.

Amstelveen – WEBWIRE –

Its encouraging news that we can stand on our own feet again after such a difficult period.

The coronavirus crisis had an unprecedented impact on the airline industry. The Dutch government provided an exceptional helping hand in the form of a direct loan of 1 billion and a 90% guarantee on a 2.4 billion bank credit facility.

In 2020, KLM withdrew 942 million of the available 3.4 billion. This amount could be repaid in full as early as in June 2022 thanks to rapidly recovering passenger demand.

KLM announced that it has closed the remaining direct loan and credit facility, guaranteed up to 90% by the Dutch government. This means that the conditions governing the financial support package no longer apply. KLM reiterates that achieving greater sustainability, while remaining healthy and competitive still serve as key objectives.

KLM has opened a 1 billion revolving credit facility with a syndicate of banks to replace the financial support package. The credit facility is linked to ESG objectives regarding sustainability and social responsibility. ABN AMRO, ING and Rabobank coordinated the group of banks and Crdit Agricole did so for the sustainability targets. Once the ESG targets have been met, the interest margin will be reduced.

Its encouraging news that we can stand on our own feet again after such a difficult period. This is also due to the efforts of all KLM employees and the loyalty of our customers. We are grateful to the Dutch government for its support during the coronavirus crisis. Our focus remains on meeting our sustainability targets and staying financially healthy through achieving structural cost savings. This will not change and it is the only way for us to continue connecting our customers who want to travel the world.

KLM CEO Marjan Rintel

Its fantastic that three years on from the outbreak of the coronavirus pandemic, we can conclude the state support package. Were able to take this step thanks to KLMs strong cash position and the good prospects facing the airline industry. Im pleased the banks involved share the confidence we have in KLMs future. In so doing, we are now leaving the coronavirus crisis behind us. The enormous degree of support received from both government and the banks has been essential for KLM over this period.

KLM CFO Erik Swelheim

( Press Release Image: https://photos.webwire.com/prmedia/7/303864/303864-1.jpg )

WebWireID303864

This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.

Read More
Anthony Pepper

Latest

Crypto

Grayscale Says US Crypto Rules Can Advance Without CLARITY Act

0
U.S. crypto regulation is becoming clearer even as the CLARITY Act faces an uncertain path through Congress, according to Grayscale. Stablecoin legislation and agency initiatives are advancing, though several changes remain proposals rather than final rules. Key Takeaways Grayscale says crypto policy can advance without CLARITY becoming law. Stablecoin legislation has passed, while SEC fundraising
proven

5 Proven Strategies to Improve Retail Sales

0
To boost your retail sales, start by investing in staff training. Make sure your team knows the products inside and out, which helps them sell more effectively. Next, focus on delivering personalized service; listen to your customers and offer tailored recommendations. Consider creating a loyalty program with exclusive perks. Don’t forget to optimize your store
Demat

India’s Demat 2.0 Could Change Bond Tokenization: Here’s How It Works

0
The country has taken a major step toward bringing tokenized real-world assets (RWAs) into its mainstream financial system. The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) have launched a pilot infrastructure for issuing, holding, trading, and settling corporate bonds as digital tokens. Called Demat 2.0, the model is
price

HBAR Price Eyes a Move Toward $0.20 as Hedera RWA Growth Supports Bulls

0
Hedera (HBAR) is consolidating within a falling-wedge pattern as selling pressure persists, while bulls watch for signs of recovery. Weakening downside momentum and cautious derivatives activity keep the outlook uncertain, but Hedera’s expanding role in real-world asset infrastructure provides a supportive fundamental backdrop. HBAR Price Forms Falling-Wedge Pattern According to crypto analyst Crypto With Gopal

Newsletter

Don't miss

Crypto

Grayscale Says US Crypto Rules Can Advance Without CLARITY Act

0
U.S. crypto regulation is becoming clearer even as the CLARITY Act faces an uncertain path through Congress, according to Grayscale. Stablecoin legislation and agency initiatives are advancing, though several changes remain proposals rather than final rules. Key Takeaways Grayscale says crypto policy can advance without CLARITY becoming law. Stablecoin legislation has passed, while SEC fundraising
proven

5 Proven Strategies to Improve Retail Sales

0
To boost your retail sales, start by investing in staff training. Make sure your team knows the products inside and out, which helps them sell more effectively. Next, focus on delivering personalized service; listen to your customers and offer tailored recommendations. Consider creating a loyalty program with exclusive perks. Don’t forget to optimize your store
Demat

India’s Demat 2.0 Could Change Bond Tokenization: Here’s How It Works

0
The country has taken a major step toward bringing tokenized real-world assets (RWAs) into its mainstream financial system. The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) have launched a pilot infrastructure for issuing, holding, trading, and settling corporate bonds as digital tokens. Called Demat 2.0, the model is
price

HBAR Price Eyes a Move Toward $0.20 as Hedera RWA Growth Supports Bulls

0
Hedera (HBAR) is consolidating within a falling-wedge pattern as selling pressure persists, while bulls watch for signs of recovery. Weakening downside momentum and cautious derivatives activity keep the outlook uncertain, but Hedera’s expanding role in real-world asset infrastructure provides a supportive fundamental backdrop. HBAR Price Forms Falling-Wedge Pattern According to crypto analyst Crypto With Gopal
Customer

What Is Customer Engagement Management and Why It Matters?

0
Customer Engagement Management (CEM) is all about creating strong relationships with your customers through personalized interactions. It matters because engaged customers drive higher profits and loyalty. Start by identifying key touchpoints in your customer journey, then leverage data and technology to enhance those experiences. Focus on building emotional connections across all channels. By doing this
newsycanusehttps://newsycanuse.com

‘Eye of the storm’: Business owner’s fight to keep nail tech siblings in country

A Whangārei beauty salon owner says her business may face trouble if she cannot find a way to keep her siblings in the country. Anna Vu owns AV Beauty Spa, and has worked in the city for 12 years. She said she had always struggled to find suitably skilled nail technicians and beauty staff and
Read more

What small business owners say they’d do differently, in hindsight

Working 60+ hours a week makes owners twelve times more likely to say their business is hurting their personal life. Australian small business owners are working through illness, skipping holidays and struggling to step away from their businesses, according to new research from insurer BizCover. The survey of 1,500 BizCover small business customers found more
Read more

Bright young business brains bring ideas to life

Friday 17 July, 2026 Young Cumbrian entrepreneurs showed off their innovative business ideas, from AI virtual assistants to African food, at two celebration events this week. Fifteen young people from Furness and West Cumbria aged 14 to 25 were selected to take part in the Positive Enterprise programme back in January...
Read more