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Air France-KLM is deeper in the red, losses mount to €1.2bn

Friday 22 February 2013

Airline Air France-KLM booked a loss of €1.2bn last year, up from a loss of  €809m in 2011, as kerosene prices continue to rise.

KLM's fuel bill last year hit €7.3bn, up €890m on 2011, the airline said in a statement. But group turnover was up 5.2% to €25.6bn as more seats were sold and ticket prices were increased on North American routes.

The cost of an ongoing reorganisation is also proving more expensive than thought at €2bn. Some 5,000 jobs are being axed at Air France but jobs will also go in the Netherlands, Nos television said.

More to follow

© DutchNews.nl



 

Readers' Comments

They would only need to carry 80 million or so checked in baggages to break even :-/

By Robert | 22 February 2013 9:25 AM

I hate to break this to KLM, but with all the reduction in benefits of their Flying Blue program, plus charging for checked bags just announced, they are in for deeper pain as customers look for alternatives like Lufthansa. I am currently FB Platinum and I am just about fed up with KLM and taking my business elsewhere.

By Rick Kane | 22 February 2013 11:57 AM

Announcing extra surcharges on baggage was a pretty dumb idea: 'would have been safer to increase flights by €15 to €30.

I wonder what Richard Branson's advice would be worth?

By The visitor | 22 February 2013 3:14 PM

@Rick not to mention the fact that LH, or even BA, are way cheaper in many cases (on my last two trips I saved 30-40%). It was nice to be an Elite member, but if they don't want me to be one...

By Robert | 22 February 2013 4:09 PM

this is not going to last much longer, the end of AirFrance/KLM is in clesr sight now. the jugular vein is exposed and it's only a matter of waiting for the proper 'kill' moment. timing is very important.

By Z | 24 February 2013 9:43 PM

 
 
 
 
 
 
 
 
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