French strikes depress Air France-KLM Q1 earnings

Air via Wikimedia Commons
Air via Wikimedia Commons

Air France-KLM booked an operational loss of €118m in the first quarter of 2018 as a result of strikes at Air France which cost the combine €75m.

The Franco-Dutch group lowered its full-year earnings projections despite strong demand for tickets, Air France-KLM said on Friday.

First-quarter net losses widened to €269m from €143m in the year-earlier period. Low earnings are a tradition in the first three months of the year for airlines which book most revenue in the summer months.

The past quarter was substantially poorer because of the ongoing strike action at Air France where staff are demanding fatter pay packages. On Friday 25% of Air France flghts were cancelled due to strike action.


AF chief Jean-Marc Janaillac has said he will step down if a majority of staff do not vote to accept the company’s latest pay offer. Results of the vote will be announced on Friday at 18.00.

Air France-KLM carried 22 million passengers in the first quarter, a 5.2% increase over the 2017 period. Turnover edged up 1.8% to €5.806bn.  Costs rose by 2.1% largely due to currency fluctuations.

KLM outperformed its partner, booking operating profit €32m higher at €60m. Air France posted operating losses of €178m.

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