Air France-KLM shares slashed on earnings outlook - European airline shares wrap

Air France-KLM shares slumped 7.8% on Friday as the carrier gave an opaque assessment about its 2010 earnings outlook. For the current financial year (ending 31-Mar-09), the airline is expected to be in the red to the tune of EUR200 million at the operating level. As recently as mid-Feb-2009, the carrier was still predicting a profit for the current financial year.