Worse than expected loss at Air France-KLM for 1Q due to pension charges and fuel

Air France-KLM has reported a worse than expected operating loss of €597m for the first quarter of 2012 and as a result has warned of a higher than expected operating loss for the first half. Reported revenue was up 6% on the same period last year at €5.7bn but its operating loss grew for the quarter by €194m from €403m last year to €597m. Fuel costs are to blame on the main with an 18% increase recorded but employee costs also went up by some 6% and this on the main was due to pension charges from the KLM side