Europe & CIS: Cargo bright spot for Air France KLM

The company said it was able to avoid a bigger overall earnings drop in the quarter by hedging 40 per cent of its fuel and raising fares, and it reaffirmed its fiscal full-year guidance of a €1 billion operating profit. Operating profit for the prior fiscal year ended March 31 was €1.41 billion. AF KLM […]


The company said it was able to avoid a bigger overall earnings drop in the quarter by hedging 40 per cent of its fuel and raising fares, and it reaffirmed its fiscal full-year guidance of a €1 billion operating profit. Operating profit for the prior fiscal year ended March 31 was €1.41 billion.

AF KLM said it now is aiming for total annual cost savings of €620 million by 31 March, 2009. It achieved €114 million of its previous target of €430 million in yearly expense cuts in the first quarter.