Air France-KLM posted a narrower than expected fourth quarter loss this week after capping staff costs and cutting capacity as it awaits for elusive signs of a recovering in passenger and cargo traffic. Europe’s largest airline by revenue reported a fiscal fourth quarter net loss of €505 million (US$698.3 million) and a full-year net loss of €814 million compared with a €1.4 billion full year profit a year earlier, as a result of the ongoing global economic crisis. The group’s cargo division posted an operating loss of €206.8 million (US$286 million) in cargo revenue for its 2008/2009 financial year compared to a profit of €42 million in the previous 12 months. Excluding Martinair, which became a wholly-owned KLM subsidiary at the end of 2008, total cargo revenue for the group was €2.8 billion – a drop of 2.4 per cent over the previous period. Cargo contributed 14.9 per cent of Air France-KLM total airline revenue in the 12 month period to March 31 – down from 15.2 percent the previous year.
Related Articles
Lufthansa Cargo presents commitment to transforming the aviation industry
Lufthansa Cargo continues to rely on the cargo handling services of Vienna Airport
Vietjet Air Cargo, Teleport deepen partnership with exclusive commercial rights on first key lane
Budapest Airport Revolutionises Cargo Operations With Kale Info Solutions’ Airport Cargo Community System
RTX’s Pratt & Whitney announces GTF MRO capacity expansion at West Palm Beach facility
Qatar Airways Announces the Launch of Flights to Kinshasa, Democratic Republic of Congo