Air France-KLM profits 97 percent

Source: Exec Digital UK

Date :22/11/2007 13:36:51

Air France-KLM posted almost double second-quarter profit on Thursday helped by a gain from an asset sale and strong long-haul ticket demand.

Europe's largest airline, posted net profit of €736 million (£534 million) in the three months to 30 September, rising 96.8 percent from €374 million for the same period last year.

Revenues rose 5.8 percent to €6.49 billion from €6.13 billion.

Income from current operations rose 27.6 percent to €725 million, while operating activities rose almost 66 percent to €939 million.

Hedging measures, fuel

Earnings were also boosted by fuel-price hedging and cargo-unit revenues that held up better than expected.

The efficiency of our hedging measures and the decline in the dollar enabled us to contain the rise in our fuel bill to just 1.8 percent during the quarter.

Chairman Jean-Cyril Spinetta said that the second quarter and the excellent first half results reflected the group’s ongoing efforts to contain costs.

“This ability to control costs remains a key factor as we pursue our global development while respecting our environmental commitments,” said Chairman, Jean-Cyril Spinetta.

November 22, 2007