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Air France-KLM operating loss halved in 2Q2012, targets more than EUR195m in 2H2012

31-Jul-2012 1:48 PM

Air France-KLM revenue up 5% - financial highlights:

  • Three months ended 30-Jun-2012:
    • Revenue: EUR6500 million, +4.5% year-on-year;
    • Costs:
      • Labour: EUR1969 million, +1.9%;
      • Fuel: EUR1887 million, +12.8%;
    • Operating profit (loss): (EUR66 million), compared to a loss of EUR145 million in p-c-p;
    • Net profit (loss): (EUR895 million), compared to a loss of EUR197 million in p-c-p;
    • Passenger traffic (RPKs): +2.4%;
    • Passenger load factor: 82.8%, +1.7 ppt;
    • Passenger yield: EUR 8.78 cents, +4.0%;
    • Passenger revenue per ASK: EUR 7.26 cents, +6.1%;
    • Passenger cost per ASK: EUR 7.33 cents, +3.7%;
    • Cargo traffic (FTKs): -6.9%;
    • Cargo load factor: 64.1%, -2.7 ppts;
    • Cargo yield: EUR 26.86 cents, +1.6%;
    • Cargo revenue per ATK: EUR 17.24 cents, -2.4%;
    • Cargo cost per ATK: EUR 18.72 cents, +4.0%;
  • Six months ended 30-Jun-2012:
    • Revenue: EUR12,145 million, +5.2%;
    • Costs:
      • Labour: EUR3880 million, +3.9%;
      • Fuel: EUR3568 million, +15.1%;
    • Operating profit (loss): (EUR663 million), compared to a loss of EUR548 million in p-c-p;
    • Net profit (loss): (EUR1263 million), compared to a loss of EUR564 million in p-c-p;
    • Passenger traffic (RPKs): +3.9%;
    • Passenger load factor: 82.2%, +2.4 ppts;
    • Passenger yield: EUR 8.46 cents, +2.7%;
    • Passenger revenue per ASK: EUR 6.96 cents, +5.7%;
    • Passenger cost per ASK: EUR 7.38 cents, +5.6%;
    • Cargo traffic (FTKs): -6.5%;
    • Cargo load factor: 64.5%, -2.8 ppts;
    • Cargo yield: EUR 26.90 cents, +1.6%;
    • Cargo revenue per ATK: EUR 17.35 cents, -2.5%;
    • Cargo cost per ATK: EUR 18.93 cents, +4.7%;
    • Total assets: EUR27,868 million, +2.0% when compared to period ended 31-Dec-2011;
    • Cash and cash equivalents: EUR2681 million, +17.4% when compare to period ended 31-Dec-2011;
    • Total liabilities: EUR22,987 million, +8.3% when compared to period ended 31-Dec-2011. [more - original PR][more - CAPA Analysis]

Air France-KLM: "Bookings for the Summer season are positively oriented, in line with the recent trend. However the uncertain outlook for the global economic environment together with the volatility of fuel prices and the euro make forecasts for the latter part of the year difficult. Nevertheless, in the second half, the group should benefit from the first significant effects of Transform 2015. In this context, its objective is to generate an operating result above the 195 million euros realised in the second half of 2011. On this basis, it is on track to achieve a reduction in net debt at 31 December 2012 compared with 31 December 2011.” Source: Company statement, 30-Jul-2012.