English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Business climate remains “tough” for Air France-KLM

PARIS/AMSTERDAM: The Air France-KLM Group has reported an adjusted net loss of 485 million for Q1 2014, down from 652 million in the same period last year.

Allowing for currency fluctuation, group revenue was unchanged at 5.55 billion but the net debt rose 190 million to 5.5 billion during the quarter.

AF-KL-MPCargo revenues totaled 676 million euros, down 3.4 percent and by 1.3 percent on a constant currency basis. The overall load factor increased to 64.8 percent as traffic rose 1.9 percent and capacity fell 0.9 percent.

The airline group echoed the general industry experience of continuing weak yields as revenue FTKs fell one percent. A reduction of 3.7 percent in costs reduced the operating loss for the period from 50 million to 34 million.

AF-KL says a cargo turnaround continues to take longer than expected and "further scenarios are now under consideration to restructure the full freighter business in order to accelerate the turnaround." A report is expected to be completed in "June or July" according to cargo head Eric Varnwijk who says all the options are being considered - including exiting the full-freighter business or retaining some aircraft.

The group says that while its Transform 2015 plan remains on track, the general operating environment remains "tough" as it tries to achieve a 2.5 billion EBITDA by the end of this year.

On an individual airline basis, Air France reported revenues of 3.56 billion for the quarter – down from 3.64 billion for the same period last year. The operating result saw a fall in the net loss from 370 million to 279 million. KLM's Q1 revenue declined from 2.12 billion to 2.08 billion and the loss increased from 163 million to 174 million year-on-year.

News

Written on 18/01/2018, 20:29
extreme-weather-is-world-s-greatest-economic-risk LONDON: January 17, 2018. The latest Global Risks Report from the World Economic Forum (WEF) says extreme weather events are seen as the greatest...
Written on 18/01/2018, 15:17
amazon-shortlists-20-u-s-cities-for-second-headquartersSEATTLE: January 18, 2018. Amazon has chosen 19 U.S. cities plus Toronto, Canada from 238 locations across the U.S., Canada, and Mexico as possible sites...
Written on 17/01/2018, 21:42
seat-builds-spain-s-tallest-logistics-warehouseBARCELONA: January 15, 2018. Car manufacturer SEAT (Sociedad Española de Automóviles de Turismo) is constructing a new automated logistics center to store...
Written on 17/01/2018, 17:44
maersk-and-ibm-form-blockchain-companyCOPENHAGEN/ARMONK, NY: January 16, 2018: A.P. Møller - Mærsk and IBM are to establish a joint venture to leverage blockchain technology for global...
Written on 16/01/2018, 21:36
uk-roro-freight-depends-on-future-eu-accessLONDON: January 16, 2018. The UK short-sea ferry industry is spending over £1 billion on new ships, port and service facilities in the next four years,...
Written on 13/01/2018, 20:38
germany-to-allow-longer-trainsBERLIN: January 09, 2018. German railway operators have welcomed a decision by the federal government to allow more 740-meter trains to operate. Currently...
Written on 13/01/2018, 18:53
boeing-launches-electric-cargo-droneCHICAGO, January 10, 2018. Boeing is developing a 500lbs–payload electric vertical-takeoff-and-landing (eVTOL) drone for future cargo and logistics...
Written on 13/01/2018, 18:49
amazon-expands-at-cincinnati-hubSEATTLE: January 12, 2017. Dave Clark, senior vice president Operations for Amazon Prime Air, says the company has just added 210 acres to its future air...
Written on 10/01/2018, 22:50
disasters-cost-the-u-s-economy-us-306-billion-in-2017DENVER: January 09, 2018. According to the National Oceanic and Atmospheric Administration floods, tornadoes, hurricanes, drought, fires and freezes...
Written on 07/01/2018, 21:45
arizona-plans-bridge-not-wall-with-mexicoPHOENIX, AZ: January 06, 2018: As Donald Trump seeks US$18 billion from the U.S. Congress to build his border wall with Mexico, Arizona's Republican...
Written on 03/01/2018, 20:48
new-rail-line-delivers-first-containers-to-nairobi-from-mombasaNAIROBI: January 01, 2018. The new standard gauge rail (SGR) link between Nairobi and Mombasa saw the start of its first commercial freight service with...
Written on 03/01/2018, 16:57
eurozone-dominates-pmi-manufacturing-index-growthLONDON: January 03, 2018. According to the final IHS Markit Purchasing Managers' Index (PMI) for 2017, eurozone manufacturing reached 60.6 in December,...
Written on 18/12/2017, 23:19
dhl-underwrites-good-shipping-optionBONN: December 18, 2017. DHL Global Forwarding has signed an exclusive MoU with the Good Shipping Program. The company wants to decarbonize the ocean...
Written on 13/12/2017, 22:14
corruption-pervasive-in-trump-white-houseBERLIN: December 13, 2017. A new survey by ethics watchdog Transparency International says 44 percent of Americans now believe that corruption is...
Written on 13/12/2017, 22:07
banks-to-test-blockchain-for-sustainable-supply-chainsLONDON: December 13, 2017. The University of Cambridge Institute for Sustainability Leadership (CISL), supported by Barclays, BNP Paribas, Sainsbury's,...
Written on 13/12/2017, 21:38
shipt-a-target-for-us-550-millionMINNEAPOLIS: December 13, 2017. American bricks-and-mortar retailer Target Corp. is to purchase Shipt, an online same-day domestic delivery platform, for...
Written on 11/12/2017, 18:20
deutsche-bahn-subsidiary-regrets-rastatt-rail-closureDUSSELDORF: December 11, 2017. Speaking at meeting of rail operators last week, DB Netz CEO Frank Sennhenn expressed regret for his company's involvement...
Written on 10/12/2017, 22:44
rolls-royce-to-test-remote-controlled-shippingPARIS: December 06, 2017. The European Space Agency (ESA) and Rolls-Royce have signed an MoU to investigate how space technology can be used to develop...
Written on 08/12/2017, 20:10
beijing-continues-to-cut-carbonNAIROBI: December 06, 2017. According to an Assessment Report on Beijing Capital Airport, released during the third UN Environment Assembly in Nairobi...
Written on 07/12/2017, 20:53
bollore-begins-rail-renovation-between-cote-d-ivoire-and-burkina-fasoABIDJAN, Côte d'Ivoire: December 04, 2017. SITARAIL, a Bolloré Transport & Logistics subsidiary, has begun upgrading the rail link between Abidjan and...

- powered by Quickchilli.com -