Air France-KLM losses widen in 1Q2012
Air France-KLM revenue up 6% - financial highlights for three months ended 31-Mar-2012:
- Revenue: EUR5645 million, +6.0% year-on-year;
- Passenger: EUR4430 million, +8.8%;
- Cargo: EUR744 million, -3.3%;
- Maintenance: EUR772 million, +2.6%;
- Costs:
- Labour: EUR1911 million, +6.0%;
- Fuel: EUR1681 million, +17.9%;
- Operating profit (loss): (EUR597 million), compared to a loss of EUR403 million in p-c-p;
- Net profit (loss): (EUR368 million), compared to a loss of EUR367 million in p-c-p;
- Passenger traffic (RPKs): +5.5%;
- Passenger load factor: 81.6%, +3.1 ppts;
- Passenger yield: EUR 8.13 cents, +1.9%;
- Passenger revenue per ASK: EUR 6.63 cents, +5.6%;
- Passenger costs per ASK: EUR 7.43 cents, +7.9%;
- Cargo traffic (FTKs): -6.1%;
- Cargo load factor: 64.9%, -2.9 ppts;
- Cargo yield: EUR 26.90 cents, +1.7%;
- Cargo revenue per ATK: EUR 17.46 cents, -2.6%;
- Cargo cost per ATK: EUR 19.16 cents, +5.5%;
- Total assets: EUR27,362 million, +0.2% when compared to period ended 31-Dec-2011;
- Cash and cash equivalents: EUR2424 million, +6.2% when compared to period ended 31-Dec-2011;
- Total liabilities: EUR21,610 million, +1.8% when compared to period ended 31-Dec-2011. [more - original PR]
Air France-KLM: "The economic environment continues to be uncertain, while the fuel price in euros remains at record levels. The annual fuel bill is expected to increase by 1.1 billion euros. In this context, the group is highly focused on the negotiations underway, the successful outcome of which will enable it to significantly improve its economic efficiency between now and 2014. The results of the First Quarter lead the group to maintain its expectations for Full Year 2012, of a reduction in unit cost at constant fuel price and currency and a maximum level of net debt of EUR6.5 billion at year end. The operating result for the First Half is expected below the level of last year, while the Second Half will see the benefits of the first 'Transform 2015' measures feeding through," Company statement. Source: Air France-KLM, 04-May-2012.