AFR Air France KLM

Air France-KLM and Air France announce the successful renegotiation of their Sustainability Linked Revolving Credit Facility, resulting in an increase to €1.4 billion and extension of its maturity to July 2028

Paris, 18 July 2024

Air France-KLM and Air France announce the successful renegotiation of their Sustainability Linked Revolving Credit Facility, resulting in an increase to €1.4 billion and extension of its maturity to July 2028

• Financial conditions optimization following Air France-KLM’s credit rating
• Maturity extended to July 2028, associated with a one-year extension option
• Increase of the facility from €1,290m to €1,405m
• Increase in the RCF lenders’ pool from 16 to 17 relationship banks, among which 12 Tier 1 banks, and 5 Tier 2 banks.

In March 2023 Air France-KLM and Air France as combined borrowers signed a €1.2billion Sustainability-Linked RCF. This facility had an initial 2026 maturity, included two one-year extension options, at lenders’ discretion, and provided for a €100 million accordion increase option at the lenders’ discretion. The first extension option and accordion option were activated in April 2024.

The amended agreement provides for an extension of the maturity to July 2028 with a one-year extension option at lenders’ discretion, as well as an increase in the size of the facility to €1.4billion with optimized financial conditions. This facility is currently undrawn. Through this transaction, Air France-KLM and Air France are extending the average maturity of available resources, in line with the Group's policy of careful liquidity management. The facility has been successfully syndicated and oversubscribed, by a pool of widely diversified international banks, which demonstrates the confidence in the Group's solidity.
This transaction was coordinated by Crédit Agricole Corporate and Investment Bank (CACIB) and Natixis CIB, jointly acting as Coordinators and Natixis CIB acting as Facility Agent.

KLM’s €1.0billion ESG-linked revolving credit facility signed in March 2023 with an initial 2027 maturity, and two one-year extension options of which one option was exercised in April 2024, remains unchanged, with a 2028 maturity.

The total amount of the Group Revolving Credit Facilities is therefore increased to €2.4billion, from €2.3 billion previously.

Investor Relations                                                        

Michiel Klinkers                        Marouane Mami                                                            

michiel.klinkers@airfranceklm.com        marouane.mami@airfranceklm.com

Website: www.airfranceklm.com

Attachment

• Press release - AFKL AF RCF