Open

Coming up

Don't miss

Replay


LATEST SHOWS

ENCORE!

From Paris's Liberation to 'arresting' art in Avignon

Read more

INSIDE THE AMERICAS

Ferguson riots: Pressure mounts on Obama

Read more

IN THE PAPERS

'The pen is mightier than the sword'

Read more

IN THE PAPERS

'Requiem for a recorder'

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government?

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government? (part 2)

Read more

DEBATE

Racism, riots and police violence: USA under scrutiny

Read more

FOCUS

Israel's minorities and military service

Read more

BUSINESS DAILY

Russia targets McDonald's over tensions with West

Read more

  • Special report: Supplying Ukraine’s soldiers on the front line

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • US forces tried to rescue slain reporter from IS captors

    Read more

  • Former Femen activist detained after fighting veiled woman

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • Former Irish PM Albert Reynolds dies at 81

    Read more

  • Tensions high in Yemen as Shiite rebel deadline looms

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

  • Deadly street battles hit Ukrainian rebel stronghold

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Brazil’s Silva launches bid after Campos plane crash death

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • Netanyahu compares Hamas to IS, Gaza offensive to continue

    Read more

  • France’s ex-PM Juppé sets up presidential clash with Sarkozy

    Read more

  • US attorney general visits Missouri town after fatal shooting

    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)