Air France-KLM reports operating profit in 2Q2016

Air France-KLM revenue down 5% - financial highlights:

• Three months ended 30-Jun-2016:
• • Revenue: EUR6215 million, -5.2% year-on-year;
  • Costs:
  • • Labour: EUR1862 million, -2.7%;
    • Fuel: EUR1167 million, -29.7%;
  • Operating profit: EUR335 million, +225%;
  • Net profit: EUR43 million, compared to a loss of EUR77 million in p-c-p;
  • Passenger numbers: 20.6 million, +0.7%;
  • Passenger load factor: 84.7%, -0.3 ppt;
  • Passenger revenue per ASK: EUR 6.78 cents, -5.6%;
  • Passenger yield: EUR 8.01 cents, -5.2%;
  • Cargo volume: 282,000 tons, -4.6%;
  • Cargo load factor: 58.5%, -1.0 ppt;
  • Cargo yield: EUR 22.3 cents, -13.5%;
• Six months ended 30-Jun-2016:
• • Revenue: EUR11,820 million, -2.6%;
  • Costs:
  • • Labour: EUR3706 million, -1.0%;
    • Fuel: EUR2263 million, -28.0%;
  • Operating profit: EUR119 million, compared to a loss of EUR154 million in p-c-p;
  • Net profit (loss): (EUR109 million), compared to a loss of EUR637 million in p-c-p;
  • Passenger numbers: 38.6 million, +2.0%;
  • Passenger load factor: 84.6%, +0.8 ppt;
  • Passenger revenue per ASK: EUR 6.69 cents, -3.0%;
  • Passenger yield: EUR 7.91 cents, -3.9%;
  • Cargo volume: 558,000, -6.5%;
  • Cargo load factor: 58.9%, -1.2 ppt;
  • Cargo yield: EUR 23.2 cents, -10.3%;
  • Total assets: EUR23,076 million;
  • Cash and cash equivalents: EUR3833 million;
  • Total liabilities: EUR23,809 million. [more - original PR]

*Traffic is combined Air France, KLM and HOP!. Transavia is reported on its own.

Air France-KLM: "The global context in 2016 remains highly uncertain regarding the geopolitical and economic environment in which we operate, fuel prices and the continuation of the overcapacity in the airline industry resulting in an increasing pressure on unit revenues and a special concern about France as a destination." Source: Company statement, 27-Jul-2016.