Franco-Dutch airline Air France-KLM on Monday announced a second quarter net loss of €895m and a halving of its operating loss to €66m.

The widening of net loss from €197 to €895 is the result of a drop in the value of hedging contracts and a restructuring charge.
Improved passenger activity saw operating costs narrow in the second quarter from €145m last year to €66m as revenues grew 4.5% to €6.5bn.
‘Because of increasing global economic uncertainty and large movements in fuel prices and exchange rates, we have to improve productivity and lower costs,’ CEO Jean-Cyril Spinetta said in a statement.
The airline is currently in negotiations with crew and unions on a key restructuring plan. Last week two out of three unions representing cabin crew rejected proposals to cut over 5,000 jobs through voluntary redundancy.
Pilots are due to vote on the plan in August.