EUROPE & CIS: Ã¢â‚¬Å“BrutalÃ¢â‚¬Â market, but AF-KLM stabilising
Air France-KLM has posted a 20.5 per cent drop in fiscal first-quarter sales as the continuing weak economic climate depressed air travel and freight demand. Overall revenue totalled Ã¢â€šÂ¬5.19 billion in the three months to 30 June. Cargo revenue dropped 41.5 per cent to Ã¢â€šÂ¬544 million due to a decline in volumes of 22.7 per […]
August 1, 2009
Cargo revenue dropped 41.5 per cent to Ã¢â€šÂ¬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 carrierÃ¢â‚¬™s passenger business fell 18.7 per cent to Ã¢â€šÂ¬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.
Ã¢â‚¬Å“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,Ã¢â‚¬Â Air France-KLM said.
Meanwhile, the head of Air France- KLM said last week that EuropeÃ¢â‚¬™s biggest airline is considering part-time jobs or temporary layoffs to combat the Ã¢â‚¬Å“brutalÃ¢â‚¬Â situation in cargo and passenger demand.
Ã¢â‚¬Å“Air France-KLM must remain competitive. I havenÃ¢â‚¬™t excluded temporary lay-offs. We will watch very closely. These measures should allow us to avoid affecting employment,Ã¢â‚¬Â he said.