Air France-KLM reports increasing unit revenue, positive forward bookings

Air France-KLM has reported its bookings for the coming months "remain on a positive trend" as it moves into the peak summer travel period. The carrier reported an increase in unit revenue (RASK) as its Apr-2011 passenger numbers rose 28%. The year-on-year comparison is skewed significantly due to last year's volcanic eruption in Iceland and the effect on European air space.

Air France-KLM traffic highlights in Apr-2011 were as follows:

  • Passenger numbers: 6.4 million, +28% year-on-year;
  • Passenger load factor: 81.2%, +1.2 ppts;
    • Europe: 75.2%, +5.4 ppts;
    • America: 86%, +1.0 ppts;
    • Asia Pacific: 81.4%, -2.1 ppts;
    • Africa and Middle East: 77.7%, -2.3 ppts;
    • Caribbean and Indian Ocean: 83.4%, +4.5 ppts;
  • Cargo traffic (FTKs): +11%;
  • Cargo load factor: 67.7%, -2.8 ppts.

Shares in the carrier were down 2% yesterday, amid a weak day for European stocks as oil prices increased again.

The major exceptions to the downward trend in Europe were El Al and Flybe. El Al bounced back 2.6% as Paz Aviation Assets - the fuel supplier at Ben Gurion International Airport - resolved the issue with contaminated fuel supplies. Flybe's shares are recovering following a dramatic 25% single day fall last week, following a downward revision of the company's profit outlook. Its shares were up 5.8%.

Selected EAD daily share price movements (% change): 09-May-2011