AFRAF - Air France-KLM: Don't Expect Full Recovery In The Next Couple Of Years
Air France-KLM (AFRAF) (AFLYY) expects to recover from COVID-19 only in 2025. While liquidity is not a problem, since the airline received over €10 billion of state funds from France and Dutch governments, it's very unlikely that the company will be able to reward its shareholders anytime soon. With a high debt load, overleveraged balance sheet, and no profitability in sight, Air France-KLM's stock is likely going to trade in a distressed territory for a long time. The distrust between the Dutch and French governments, the upcoming second wave of the pandemic in