Air France-KLM loss tops €1.5bn
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Add as a favourite source on Google Add DutchNews as a favourite source on GoogleAirline Air France-KLM booked a loss of €1.56bn in its 2009/2010 financial year to April and has scrapped its dividend payments in what CEO Pierre-Henri Gourgeon describes as a ‘horror year’.
Nevertheless, the company is predicting a return to break even in its current book year excluding the effect of fuel hedges and subject to the cost of European airspace closures because of the ash cloud.
Air France-KLM said its priority is to ‘control costs via headcount reduction’ and to boost its unit revenues by holding the growth in capacity to 1%.
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