Air France-KLM has reported a €1.2 billion loss for the first quarter of 2021.
As government lockdowns to control Covid-19 continued across Europe, the group flew 4.8 million passengers during the quarter.
The figure represents a fall of 73 per cent year-on-year.
In a statement the carrier added: “Due to the stricter lockdown in France until at least the beginning of May, continuation of the lockdown in the Netherlands and travel restrictions worldwide still in place, the group anticipates the beginning of the second quarter to be similar to the first quarter whereby the customer booking behaviour is still short-term oriented.
“The key to reduce travel restrictions and reopen borders is a rapid rollout of wide-scale vaccination.”
Air France-KLM said it expects its overall capacity in quarter two to be about half of that seen in the same quarter of 2019.
This is ahead of rival International Airlines Group, which this morning said it expects to fly around a quarter of pre-Covid-19 capacity.
Ben Smith, group chief executive at Air France-KLM, said: “A year into the Covid-19 crisis, lockdown measures and travel restrictions in our home markets and around the world continue to strongly impact the group’s activity.