Weak half year results 2012 with Air France-KLM

‘Transform 2015’-plan shall lead the Air France-KLM group to its turnaround
 
In an increasingly uncertain global economic environment the French airline Air France-KLM is struggling with further losses. Against the background of a global economic environment compounded by oil price and exchange rate volatility, an improvement in productivity and costs is becoming more necessary for the enterprise, as Jean-Cyril Spinetta, Chairman of the Board of Directors of Air France-KLM, pointed out at the presentation of the accounts for the first half of 2012. 
 
With an operating result at – EUR 663 million in the first half of 2012, total revenues amounted to EUR 12.14 billion (+5.2% year-on-year). Operating costs rose 2.7% ex-fuel and by 5.9% including fuel. The fuel bill was up EUR 469 million. 
 
Since 3 July Air France operates also a direct flight from Vienna to Strasburg. While passenger traffic was up by 3.9 per cent, cargo traffic fell by -6.5 per cent for capacity down 2.5 per cent leading to a 2.8 point drop in load factor to 64.5 per cent. In cargo, unit revenue per available tonne kilometre (RATK) was down 5,4 per cent ex-currency. 
 
However in spite of the uncertain outlook due the volatile global economic environment, in the second half, the group should benefit from the first effects of its ‘Transform 2015’-plan. In this context, its objective is to generate an operating result above the EUR 195 million realised in the second half of 2011.

Quelle: LogEastics

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