EUROPE & CIS: Air France-KLM cargo recovery gathers steam
Air France-KLMÃ¢â‚¬™s cargo business has returned to profitability with a modest profit in the first quarter of the groupÃ¢â‚¬™s financial year ending in June. AF-KLM Cargo generated an operating income of Ã¢â€šÂ¬11 million against a loss of Ã¢â€šÂ¬197 million a year earlier. The group estimated that without the impact of the five-day closure of European […]
September 1, 2010
Revenue for the period totalled Ã¢â€šÂ¬774 million (US$1 billion), an increase of 42.3 per cent on the same period last year, while traffic growth (measured in RTKs) was far more modest, up 2.6 per cent, against a 6.8 per cent drop in capacity. The load factor gained 6.4 points to 69.6 per cent.
Air France-KLM said in view of the quicker than expected turnaround in the cargo business it is targeting break even at the operating level for the fiscal year ending March 31, 2011. The carrier idled six of its 15 Boeing 747-400 freighters during the quarter but kept its two Boeing 777 cargo aircraft and seven MD-11 freighters in the air.