Franco-Dutch airline Air France-KLM on Thursday posted a loss of €809m in 2011 and warned soaring fuel costs would hit profits again this year.
As well as record fuel costs, the eurocrisis, unrest in the Middle East and earthquake and tsunami in Japan also hit earnings, the airline said.
‘The economic outlook remains uncertain while the fuel price remains at a record level in euros,’ the company said in a statement.
Air France-KLM said in January it is embarking on a major recovery plan involving reducing investment by €1bn and generating €1bn through freezing wages and recruitment.
The group posted an operating loss of €353m in 2011, compared with profit of €28m in 2011.
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