Air France-KLM's heavy loss in Q3
Friday, 13 February 2009 07:25Air France-KLM has reported a €194m operating loss for the third quarter of its financial year, saying the period's results 'reflected the increasing severity of the economic downturn'.
Europe's largest airline said revenue fell 0.1% from a year earlier to just under €6 billion. It posted a net loss of €505m compared with a €139m net profit in the previous year's third quarter, which runs from October to December.
Air France-KLM said last month it was likely to post an operating loss of around €200m for its third quarter as the economy worsened.
It reiterated today that it still expected to achieve an operating profit for the full year to the end of March, but the level would depend on how the economy developed until then, especially in cargo which is facing a tough environment.
Air France-KLM withdrew detailed full-year forecasts in November after warning in October it would not be able to reach its 2008-09 operating profit target of €1 billion.
