• ITVI.USA
    15,360.600
    75.400
    0.5%
  • OTLT.USA
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    -0.011
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  • OTRI.USA
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    -0.010
    0%
  • OTVI.USA
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    75.820
    0.5%
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  • TSTOPVRPM.LAXSEA
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  • TSTOPVRPM.LAXDAL
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  • TSTOPVRPM.ATLPHL
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  • TSTOPVRPM.PHLCHI
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  • TSTOPVRPM.CHIATL
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    6.4%
  • WAIT.USA
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    -1.000
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  • ITVI.USA
    15,360.600
    75.400
    0.5%
  • OTLT.USA
    2.768
    -0.011
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  • OTRI.USA
    21.410
    -0.010
    0%
  • OTVI.USA
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    75.820
    0.5%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.CHIATL
    3.140
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    6.4%
  • WAIT.USA
    125.000
    -1.000
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American Shipper

KLM EXPECTS OPERATING INCOME TO DOUBLE

KLM EXPECTS OPERATING INCOME TO DOUBLE

   KLM Royal Dutch Airlines said Monday its second-quarter fiscal results were better than anticipated and the airline predicted fiscal year operating income would more than double last year's results.

   Second-quarter net income rose 71 percent to 118 million euro ($106 million), while operating income rose 52 percent to 201 million euro ($181 million), despite a 77-percent increase in fuel expenses.

   “Fuel prices remain at record levels,” the company said. “Our fuel requirements for the remainder of the current fiscal year are hedged at a level of approximately 60 percent.”

   The company said it would raise its fuel surcharge for all cargo rates by 4 percent, effective Nov. 1.

   Operating revenue rose more than 12 percent to 1.9 billion euro ($1.72 billion). The airline saw a 15-percent increase in cargo revenues, to 261 million euro ($235 million). Cargo load factor was 71.7 percent, up from 70.5 for the    year-earlier quarter. Cargo yield improved 12 percent.

   Through the first six months of its fiscal year, KLM reported net income of 161 million euro ($145 million), up 55 percent. Operating income rose 45 percent to 301 million euro ($271 million).

   “We are confident that operating income will also show a year-on-year improvement in the second half of the fiscal year — albeit to a lesser degree than in the first half-year,” KLM said. “We expect operating income for the full year to be more than double the operating income level of last year.”

   KLM released its quarterly and half-year results two days early because a draft news release of the results was stolen this past weekend from an employee of KPMG, KLM's external auditors.

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