Air France-KLM's 1QFY2012 losses widen

Air France-KLM revenue up 9% - financial highlights for the three months ended 30-Jun-2011:

• Revenue: EUR6220 million, +8.7% year-on-year;
• Costs:
  • Labour: EUR1932 million, +3.5%;
  • Fuel: EUR1673 million, +16.1%;
• Operating profit (loss): (EUR145 million), compared to a loss of EUR132 million in p-c-p;
• Net profit (loss): (ER197 million), compared to a profit of EUR736 million in p-c-p;
• Total assets: EUR28,723 million, -0.8%;
• Cash and cash equivalents: EUR3151 million, -15.2%;
• Total liabilities: EUR22,129 million, +0.3%;
• Passenger traffic (RPKs): +9.4%;
• Passenger load factor: 81.1%, -0.5 ppt;
• Passenger yield: EUR 8.50 cents, +0.6%;
• Passenger revenue per ASK: EUR 6.89 cents, -0.1%;
• Passenger cost per ASK: EUR 7.02 cents, -0.3%;
• Cargo traffic (FTKs): +1.9%;
• Cargo load factor: 66.7%, -2.8 ppts;
• Cargo yield: EUR 26.47 cents, +1.5%;
• Cargo revenue per ATK: EUR 17.67 cents, -2.7%;
• Cargo cost per ATK: EUR 17.73 cents, +0.6%. [more]
  

Air France-KLM: "The operating environment remains uncertain due to the situation in Japan, Africa and the Middle-East and the Eurozone crisis. Moreover, fuel prices are still at high levels and the euro remains volatile. For the upcoming Winter season, the group has decided to reduce long-haul capacity growth (including the Martinair passenger activity) from 5.1% to 2.7% (-2.4 points). In this context, the group continues to target a positive operating result for the calendar year 2011," Company statement. Source: Air France-KLM, 27-Jul-2011.