Air France-KLM has repaid a €4bn pandemic-era loan, which was granted by nine banks and was guaranteed by the French state, with a final €2.5bn tranche returned ahead of March 15. The group said its “solid cash position combined with the €1bn proceeds of the sustainability-linked bond issued in January 2023” allowed it speed up the repayment and in turn help with “smoothing” its debt profile, reducing financial costs and limiting “residual exposure to floating rates”. The repayment came after the group’s “strong rebound of its revenues” in 2022, which left it with an “improved operating result and a positive

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