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AF-KLM posts first profit since 2008, cargo sees losses grow

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AF-KLM posts first profit since 2008, cargo sees losses grow

February 20, 2016 by PLA Editor

The fall in fuel prices and growth in its passenger traffic helped the Air France-KLM group post its first profit since 2008, posting a healthy operating profit of €816 million for the full year 2015, compared with a loss of €129 million in 2014, but unfortunately for the cargo division red ink still runs rampant.

Air France-KLM Cargo’s full-year loss increased to €245 million from €212 million on revenue down 9.5 per cent at €2.4 billion as the group continued to scale back its full freighter capacity. Cargo volume was down 7.7 per cent at 309,000 tonnes for a full-year total of 1.2 million tonnes, a 7.5 per cent decline on 2014.

The cargo division’s loss shrank to €23 million in the fourth quarter of 2015 from €31 million in the same period last year while revenue declined by over 14 per cent to €612 million from €714 million.

The carrier slashed maindeck capacity by more than 23 per cent during the year by phasing out five aircraft, which helped to cut the loss of the all-cargo fleet to €42 million from €55 million in 2014. The ultimate aim is to operate only five full freighters by midway through this year, a mere shadow of its former self when in its heyday operated 26 freighters when the French and Dutch airlines merged in 2005.

“This reduction should enable the full-freighter business to return to operating breakeven in 2017,” the carrier said.

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Other Topics: AF-KLM, Air & Cargo Services, air cargo, Air Cargo Asia, air cargo freight, Air Forwarding, Air France, air freight, Air Freight Asia, Air Freight Logistics, air freighter, air freighting, Air Logistics Asia, Air Shipping Asia, airlines cargo, airways cargo, asia cargo news, cargo aviation, KLM

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