Air France-KLM has posted a EUR368 million (US$5.65 million) net loss for the first quarter of 2012.
The result marks a continuation of poor financial results for the Franco-Dutch airline group, following a EUR809 million full-year loss in 2011. Year-on-year, the quarterly loss widened slightly, from EUR367 million in Q1 2011. Revenues actually increased 6.0% year-on-year to EUR5.65 billion, but this was insufficient to compensate for the rise in costs, especially fuel, which jumped 17.9% to EUR1.91 billion.
Ina statement, Air France-KLM said the first quarter was “difficult”, and the outlook for the near future doesn’t offer the group much cause for optimism. Air France-KLM said the operating result for the first half of 2012 is expected to be worse than last year’s EUR548 million loss, although performance is expected to pick up in H2 2012 as the group’s cost-cutting strategies kick in.
