Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Louis XIV's message for the royal baby

Read more

BUSINESS DAILY

Macron hopes for breakthrough on trade tensions during US visit

Read more

THE DEBATE

Macron meets Trump: A state visit with discord on the horizon?

Read more

ENCORE!

Music show: Mahalia, Ariana Grande & Willie Nelson

Read more

FOCUS

Tramadol: Cameroon’s low-budget opioid crisis

Read more

TALKING EUROPE

EU citizens’ consultations: Macron’s efforts to renew Europe

Read more

THE INTERVIEW

Strengthening ties Down Under: The man charged with promoting Australia in France

Read more

TALKING EUROPE

Jagland: ‘Would be disastrous if Russia pulls out of Council of Europe’

Read more

IN THE PRESS

Much ado about nothing? Actress Natalie Portman's boycott of 'Jewish Nobel awards' sparks backlash

Read more

Air France-KLM posts net profit despite costs

Latest update : 2008-05-22

The Franco-Dutch carrier said net profit slipped 16% to 748 million euros in 2007-08. Chairman Jean-Cyril Spinetta said he was banking on operating income to reach €1bn in 2008-09, despite a strong euro and soaring fuel costs.

Air France-KLM said Thursday it is aiming for operating income in 2008-2009 of one billion euros (1.58 billion dollars) despite record oil prices.
  
"The current year is set to be challenging, with the oil price and global economy creating significant uncertainty," chairman Jean-Cyril Spinetta told the Paris-based air carrier's board of directors, a company statement said.
  
But thanks to "strategic advantages", efficient fuel hedging, rigourous cost control and ongoing post-merger synergies, Air France-KLM will remain "comfortably in profit," he said.
  
"Under these conditions, and based on an oil price of 120 dollars per barrel, our objective is of an operating income in the region of one billion euros."
  
Operating profits in the year to March 31 were 1.405 billion euros, up 13.3 percent on 2006-2007, on revenues of 24.1 billion euros, despite a fourth-quarter operating loss of 46 million euros.
  
Air France-KLM was created in 2004 by the merger of Air France and KLM Royal Dutch Airlines.

Date created : 2008-05-22

COMMENT(S)