Air France-KLM’s first quarter loss narrows

Q1 operating loss is €530 million as unit costs fall

Air France-KLM reports today that its operating loss narrowed in the first quarter of 2013, to €530 million from a loss of €611 million for the same period in 2012. Revenues at Europe’s second-biggest traditional airline by revenue grew by 1.3% to €5.72 billion.
The group said its 2015 debt reduction plan remained on track and it confirmed that it would continue to cut unit costs. Unit costs fell by 1.7% in the first quarter. However, the group is not giving financial forecasts for the whole of 2013, even though most analysts are predicting that Air France-KLM will return to operating profit this year with a surplus of around €360 million compared to a loss of €300 million last year.
Reuters

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