Air France-KLM losses narrow in 1Q2016

Air France-KLM revenue stable - financial highlights for three months ended 31-Mar-2016:

• Revenue: EUR5605 million, +0.4% year-on-year;
• • Passenger network*: EUR4473 million, +1.2%;
  • Cargo: EUR529 million, -15.4%;
  • Maintenance: EUR1006 million, +4.8%;
  • • Third party revenue: EUR431 million, +13.4%;
• Costs:
• • Labour: EUR1844 million, +0.8%;
  • Fuel: EUR1096 million, -25.9%;
• Operating profit (loss): (EUR216 million), compared to a loss of EUR257 million in p-c-p;
• • Passenger network*: (EUR18 million), compared to a loss of EUR322 million in p-c-p;
  • Cargo: (EUR50 million), compared to a loss of EUR63 million in p-c-p;
  • Maintenance: EUR38 million, +8.6%;
• Net profit (loss): (EUR155 million), compared to a loss of EUR559 million in p-c-p;
• Passenger numbers: 19.9 million, +4.6%;
• Passenger revenue per ASK*: EUR 6.59 cents, stable;
• Passenger revenue per RPK: EUR 7.80 cents, -2.3%;
• Cargo volume: 276,000 tons, -8.4%;
• Cargo revenue per ATK: EUR 14.3 cents, -9.1%;
• Cargo revenue per RTK: EUR 24.1 cents, -7.1%;
• Total assets: EUR23,112 million;
• Cash and cash equivalents: EUR3501 million;
• Total liabilities: EUR23,622 million. [more - original PR]

Air France, KLM and HOP! is reported, Transavia is reported separately

Air France-KLM: "The global context in 2016 remains highly uncertain regarding fuel prices, the continuation of the overcapacity situation on several markets and the geopolitical and economic context in which we operate. As a consequence, the Group expects the forecasted savings on the fuel bill to be significantly offset in the coming quarters by unit revenue pressure and negative currency impacts." Source: Company statement, 04-May-2016.