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AIRFRANCE KLM GROUP THIRD QUARTER 2021 Continuing recovery in capacity generates strong revenue growth and positive operating results for the first time since the start of the Covid - 19 crisis , Adjusted operating free cash flow positive at 278 million euros thanks to EBITDA contribution Third quarter : ● ● ● Revenue at 4,567 million euros , up 2,043 million compared to last year Operating result at 132 million euros , up 1,178 million euros compared to last year EBITDA improved to 796 million euros , an increase of 1,238 million euros compared to last year Strong performance of Transavia with an operational result of 105 million euros Net income at -192 million euros , up 1,473 million euros compared to last year Net debt at 8.1 billion euros , down by 2.9 billion euros compared to end of 2020 thanks to the first set of capital strengthening measures OUTLOOK After the announcement in September of the reopening of the United States for European citizens , bookings came quickly for November and even more for Christmas holiday . The reopening of Canada in early September was another important milestone for the recovery of the Group , as well as the reopening of Singapore as from October . October 29 , 2021 In this context , the Group expects capacity in Available Seat Kilometers for Air France - KLM Network passenger activity at index in the range of 70 % to 75 % in the Fourth quarter 2021 compared to 2019. EBITDA is expected to be positive in the Fourth quarter 2021 and slightly positive in Full Year 2021 . Due to the uncertainty regarding the reopening of the majority of the Asian countries , no capacity guidance will be provided for 2022 . Air France - KLM is considering the next steps of recapitalization measures to strengthen balance sheet . The reprofiling of the French Bank Loan " PGE " , the EMTN program ( Euro Medium Term Note ) which is now ready for use , and the finalization of a S & P solicited ESG rating tool , will be part of the liability management actions . On the equity side , discussions are ongoing on KLM recapitalization measures on current shareholder loan and also on further capital strengthening measures for Air France - KLM . These could include instruments such as a Rights Issue and Quasi equity instruments . Air France - KLM Group Passengers ( thousands ) Passenger Unit revenue per ASK² ( € cts ) Operating result ( € m ) Net income - Group part ( € m ) Adj . operating free cash flow ( Em ) Net debt at end of period³ ( € m ) Third quarter 2021 16,940 5.48 132 -192 278 Change¹ + 92.6 % + 36.9 % +1,178 +1,473 +1,498 Nine months 2021 28,787 4.34 -1,800 -3,161 -856 8,121 Change + 2.3 % -12.5 % +1,614 +2,917 +2,691 -2,928 1 The third quarter 2020 was highly impacted by worldwide travel restrictions 2 Passenger unit revenue is the aggregate of Passenger network and Transavia unit revenues , change at constant currency 3 See appendix for the calculation of the net debt 1