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;
- 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