Air France-KLM improves results in second quarter

Air France-KLM has improved its results marginally in the second quarter but is introducing new cost-cutting measures.

Turnover rose 1.2% to €6.58, passenger numbers rose and fuel costs fell. Operating profit was €79m compared with a loss of the same amount in the year earlier period.

Net debt was reduced by over €600m, down from a loss of €897m a year ago to €163m this quarter.

‘For the past year our results have improved quarter after quarter, in spite of the persistently tough economic environment,’ CEO Alexandre de Juniac said in a statement. ‘Nevertheless, revenues remain below target at this stage.’

Air France-KLM says it will be introducing new cost-cutting measures and will make the details known later this year.