AIR FRANCE-KLM POST 45M EURO LOSS FOR Q3

Dino D'Amore
By Dino D'Amore February 11, 2011 17:42

AIR FRANCE-KLM POST 45M EURO LOSS FOR Q3

Air France-KLM Group has reported a €45 million net loss for its third quarter to December 31st. This is from a  €294 million loss during Q3 09.  The company said “numerous one-off events” throughout the 2010/11 year of account have “dragged down earnings”. Net income for the nine months to December 31st stood at €979 million from an €867 million euro loss last year. Operating revenue was €18.29 billion, up 14.5%.

The airline blamed bad weather, unrest in the Middle East, strike action and overcapacity created by an increase in offers by competitors during the winter season (so just about everything bar fuel).

Passenger yield for Q3 was up 9.4% to €0.085, PRASK was up 11% to €0.069 and CASK saw an increase of 5.5% to €0.068. Operating income for Q3 was €81 million, from a €245 million operating loss last year. Traffic for Q3 was up 3.1% to 50.75 billion RPKs on a 1.6% increase in capacity to 62.38 billion ASKs, producing a load factor of 81.4%, up 1.2%.Q3 revenue was up 13.9% to €5.92 billion while expenses grew 14.4% to €3.56 billion including a 28.2% leap in aircraft fuel costs to €1.35 billion.

Cargo revenue was up 27.7% in Q3 from last year to €830 million on the back of traffic increasing 4.9% to 2.99 billion RTKs on a 3.8% boost in capacity to 4.24 billion ATKs, producing a load factor of 70.4%, up 0.7%. Cargo yield improved 20.7% to €0.264.

Dino D'Amore
By Dino D'Amore February 11, 2011 17:42
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