Air France-KLM returns to profit, buys into GOL

Airline on course for debt reduction goal set for 2015

Air France-KLM has swung back to profit and is on course to meet a debt reduction goal set for 2015, the airline says.

An operating profit of €130 million for 2013 is Air France-KLM’s first underlying profit in three years. It compares with a €336 million loss for 2012. Revenues stood at €25.52 billion, while gross earnings grew by a third to €1.855 billion.

Air France-KLM confirmed a gross earnings forecast of €2.5 billion for 2014. It is targeting net debt reduction to €4.5 billion in 2015.

“We are reasonably confident that the economic situation has stopped weakening,” chief executive Alexandre de Juniac said at a press briefing.

The airline also announced a strategic partnership with the Brazilian airline GOL Linhas Aereas, including joint sales and sharing flights. Air France-KLM will invest US$100 million in GOL, including a purchase of $52 million of shares.

Reuters

[pictured: Embraer 90; courtesy KLM]

x

Check Also

Ryanair’s cabin baggage rules change

Passengers no longer able to carry two cabin bags on board

Bergen two new routes, Billund one

Air France and Wizz Air announce fresh expansions

TORP, Sandefjord, lufthavn, airport, passengers, rise, increase, Rygge, low-cost, Ryanair, power, Oslo

Oslo Torp: 35% more passengers

Record year for Oslo’s second airport

KLM pioneers AI in social media

Artificial intelligence answers passengers’ questions

Sri Lanka invests in shipwreck tourism

Country has hundreds of possible shipwreck dive sites

Facebook, messenger, chatbot, travel industry, mobile, hotels

Travel industry sees chatbot boom

Airlines, hotels and travel agents making use of new trend