Air France-KLM 2QFY2010 revenue down 19.2%, falls into the red

Air France-KLM revenue down 19.2% - financial highlights:

Three months ended 30-Sep-2009:

• Revenue: EUR5,606 million, -19.2% year-on-year;
• External costs: EUR3,449 million, -17.4%;
  • Fuel: EUR1,296 million, -25.3%;
• Labour: EUR1,811 million, -2.1%;
• EBITDAR: EUR555 million, -45%;
• Operating profit (loss): (EUR47 million), compared to a profit of EUR391 million in the previous corresponding period;
• Net profit (loss): (EUR147 million), compared to a profit of EUR27 million in the previous corresponding period;
• Passenger traffic (RPKs): -3.3%;
• Load factor: 84.0%, +0.9 ppt;
• Revenue per RPK: EUR 7.37 cents, -14.6%;
• Revenue per ASK: EUR 6.19 cents, -13.6%;
• Cost per ASK: EUR 6.14 cents, -7.8%;
• Cargo traffic (FTKs): -16.8%;
• Revenue per FTK: EUR 19.28 cents, -28.4%;
• Revenue per ATK: EUR 12.43 cents, -27.8%;
• Cost per ATK: EUR 15.58 cents, -7.7%;

Six months ended 30-Sep-2009:

• Revenue: EUR10,775 million, -19.9% year-on-year;
• External costs: EUR6,794 million, -15.7%;
  • Fuel: EUR2,432 million, -24.0%;
• Labour: EUR3,691 million, -1.7%;
• EBITDAR: EUR667 million, -63.5%;
• Operating profit (loss): (EUR543 million), compared to a profit of EUR592 million in the previous corresponding period;
• Net profit (loss): (EUR573 million), compared to a profit of EUR176 million in the previous corresponding period;
• Passenger traffic (RPKs): -4.5%;
• Load factor: 81.7%, +0.1 ppts;
• Revenue per RPK: EUR 7.46 cents, -14.3%;
• Revenue per ASK: EUR 6.10 cents, -14.2%;
• Cost per ASK: EUR 6.30 cents, -5.9%;
• Cargo traffic (FTKs): -19.3%;
• Revenue per FTK: EUR 18.97 cents, -26.7%;
• Revenue per ATK: EUR 12.11 cents, -28.9%;
• Cost per ATK: EUR 15.82 cents, -4.9%. [more]

Air France-KLM: "The group continues to adapt to the economic environment by reducing capacity. In the passenger business capacity is down 2.0% for the Winter '09 season while cargo is also continuing to reduce…lack of visibility over the timing and strength of the economic recovery means we must pursue our efforts in terms of cost reduction. Our objective is to return to operating break-even, excluding the impact of the pre-2009 fuel hedges, by the beginning of the next financial year," Company statement. Source: Air France-KLM, 18-Nov-2009.