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

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.

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