PROFIT WARNING ISSUED BY AIR FRANCE-KLM

Dino D'Amore
By Dino D'Amore February 9, 2011 17:25

PROFIT WARNING ISSUED BY AIR FRANCE-KLM

Air France-KLM has warned it will earn less than it targeted operating profit of €300 million in 12 month to the end of March 2011 but will not make a loss.

Strikes, snow disruption and instability in Africa have all affected the airline’s performance, despite earning operating profits of €81 million in the third quarter.

The airline group has also blamed overcapacity for the fall because rival airlines have been quick to add seats as markets start to recover. However, it stated that: “The improvement in ex-fuel cost is in line with our forecasts.”

Earlier this week Air France-KLM reported a 4.8% rise in January passenger traffic, outstripping a 3.3% rise in capacity.

Dino D'Amore
By Dino D'Amore February 9, 2011 17:25
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