Air France-KLM posts €431 million Q1 loss

Air France-KLM Group, Europe’s biggest airline, posted a first-quarter loss as the recession continued to take its toll on passenger traffic and cargo handling. The net loss was €431 million compared with net income of €132 million a year earlier. Air- freight sales dropped 42 per cent to €544 million while sales at the passenger […]


Air France-KLM recession results


Air France-KLM Group, Europe’s biggest airline, posted a first-quarter loss as the recession continued to take its toll on passenger traffic and cargo handling. The net loss was €431 million compared with net income of €132 million a year earlier. Air- freight sales dropped 42 per cent to €544 million while sales at the passenger business fell 19 per cent from a year earlier to €4.01 billion. “Global economic activity has stabilised at unprecedented low levels, leading to a sharp decline in volumes and unit revenues,” Air France said in a statement.