Air France-KLM Cargo losses mount

Losses are partly due to restructuring plan, says Jean-Cyril Spinetta

AF-KLM Air France Cargo Air France-KLM cargo unit freighter capacity Jean-Cyril Spinetta KLM Cargo Martinair operating loss second quarter Transform 2015

Air France-KLM’s (AF-KLM) cargo unit saw a second-quarter operating loss of $76.3 million (€ 62 million) compared to the $17.2 million (€14 million) a year ago and were part of AF-KLM’s net loss of $1.1 billion (€895 million). According to AF-KLM chairman Jean-Cyril Spinetta, the losses could be attributed to the restructuring programme. He said that the “results demonstrate how crucial the success of the Transform 2015 plan is to the turnaround of the group”. The restructuring will see Air France Cargo reducing freighter capacity by 20 per cent and accelerate integration with KLM Cargo and Martinair, which now operates 13 of the group’s 20 freighters.