Air France-KLM shares savaged on profit downgrade, British Airways, Iberia hit - share wrap

Air France-KLM shares plunged 9.5% on 20-Jan-09 as investors punished the airline for its disclosure that it would post a third-quarter operating loss, raising concerns about the outlook. The carrier stated, "the deterioration in the economic environment during the third quarter has led to a slight weakening in passenger unit revenues and a strong decline in cargo revenue".