La Compagnie, the all-business class airline operating between France and the US, suspended all daily operations on March 13, 2020, when the US imposed travel restrictions on individuals without citizenship or permanent resident status in an effort to curb COVID-19 transmission rates. The airline has stated that it expects to resume operations in June 2021 between Paris and New York and between New York and Nice in July. But it warns that this schedule remains flexible pending confirmation from government authorities regarding travel restrictions between international borders.
La Compagnie has commented that it was able to survive the extraordinary circumstances thanks to provisions that were put in place by the French government, along with the support of its shareholders, its suppliers and loyal clientele, and the staff’s flexibility in terms of compensation. The airline was also able to withstand the restrictive measures by temporarily pivoting its business model in mid-2020 by operating charter flights worldwide.
In June 2020, La Compagnie received a loan guaranteed by the government of €10 million anticipating the resumption of its transatlantic operations by the third trimester of 2020. While the airline had diversified its operations with charter flights, La Compagnie needed additional funding to assure its ability to overcome the unforeseen and prolonged impact of the pandemic. Recently, the airline received another €10 million government-guaranteed loan, along with renewed financial support from its shareholders.
“We have never stopped reinventing ourselves this past year so we may overcome this crisis and find new ways for our business to survive the temporary ramifications of the global pandemic. We’re now happy to be planning our return to the skies and to offer our passengers the best business class service,” shared Christian Vernet, President of La Compagnie.
La Compagnie is planning to resume operations in June 2021 between New York and Paris and in early July 2021 between New York and Nice. However, its definite flight schedule will be announced pending confirmation of the easing of travel restrictions.