Air France-KLM report strong 2nd quarter results

Air France-KLM report strong 2nd quarter results

   Air France Group reported last week that operating income for the fiscal second quarter rose 76 million euros ($100.7 million) from a year earlier to 295 million euros, reflecting increased passenger travel and efficiencies gained from the merger with KLM Royal Dutch Airlines in March. Overall profit was up 41 percent to 201 million euros.

   Revenue increased to 5.1 billion euros from 4.8 billion euros for the quarter.

   Air France-KLM cargo traffic increased 9.5 percent to 2.6 billion revenue ton-kilometers, in line with a 9.3 percent increase in capacity. Cargo revenue was up 7.8 percent to 570 million euros. The cargo load factor remained stable at 66.3 percent. Operating income for the cargo segment totaled 3 million euros versus no income for the same quarter in 2003. For the fiscal first half, cargo operating income was 13 million euros, compared to 3 million in 2003.

   “In an extremely difficult environment because of fuel prices, the results for this first half are very encouraging and demonstrate the value of the Air France-KLM merger,” Chairman Jan-Cyril Spinetta said in a statement.

   The consolidated figures represent Air France’s six-month results and five months for KLM.