Air France-KLM Posts $988m Net Profit

Airline group Air France-KLM has reported a net profit of €898m ($988m) in better than expected Q3 results released on Thursday (October 29).

Airline group Air France-KLM has reported a net profit of €898m ($988m) in better than expected Q3 results released on Thursday (October 29).

In the three months to September 30, the group’s revenues increased 10.8 per cent to €7.4bn ($8.1bn) versus €6.7bn ($7.3bn) in Q3 2014, while total operating costs were 1.1 per cent higher year-on-year.

However for the year so far, Air France-KLM reported a net loss of €158m ($173m), compared with a loss of €533m ($587m) for the corresponding period last year.

Pierre Riolacci, Air France KLM’s chief financial officer, said the airline’s performance was due to operating in “favourable conditions” but warned it needs to better its productivity in order to be level with its rivals.

TAGS: Europe
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