31-Jul-2009 5:00 PM
Air France-KLM revenues fall 20%: the “look over there” syndrome. How much worse does it get?
Analysis
Today, most full service carriers are understandably wincing at current results, meanwhile pointing at their bank balance to distract attention. Fighting this war is not about saving lives, but about having enough resources to survive till it is all over, whenever that may be. There is however little in the Air France-KLM report to reassure investors that we have even touched the bottom yet.
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