Air France-KLM in first-quarter rebound

But overcapacity and geopolitical risks remain
Low oil prices have helped Air France-KLM post a stronger-than-expected recovery for the first quarter of 2016, but overcapacity and geopolitical risks remain.
The group reported Q1 earnings before interest, tax, depreciation and amortisation (EBITDA) of €266 million, compared with a €26 million loss in the same period last year.
Revenues rose slightly to €5.6 billion, enabling Air France-KLM to cut its operating loss from €417 million to €99 million a year earlier.
However, recent terror attacks in Paris continue to affect demand, especially in Japan, finance director Pierre-Francois Riolacci admits.
“We see a market under pressure, which has gradually become more under pressure, and we are being very, very cautious, particularly regarding the second quarter,” he says.
Reuters

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