AF-KLM sees cargo revenue drop 42% in Q1

Air France-KLM has posted a 20.5 per cent drop in fiscal first-quarter sales this week as the continuing weak economic climate depressed air travel and freight demand. Overall revenue totalled €5.19 billion in the three months to 30 June. Cargo revenue dropped 41.5 per cent to €544 million due to a decline in volumes of […]


AF-KLM Air France financial results KLM recession


Air France-KLM has posted a 20.5 per cent drop in fiscal first-quarter sales this week as the continuing weak economic climate depressed air travel and freight demand. Overall revenue totalled €5.19 billion in the three months to 30 June. Cargo revenue dropped 41.5 per cent to €544 million due to a decline in volumes of 22.7 per cent, a 17.2 per cent cut in capacity and a 25.1 per cent fall in yields. Sales in the carrier’s passenger business fell 18.7 per cent to €4.01 billion on the back of a 4.7 per cent reduction in capacity, a 5.8 per cent drop in traffic and a 14.5 per cent decline in yields, the carrier said. “We maintain our assumption of a more limited deterioration in the second quarter and stability in the last two quarters, with even a slight improvement at the end of the year compared with the second half 2008-09, itself already impacted by the crisis,” Air France-KLM said.