The Air France-KLM Group has reported a third quarter net profit of €544 million on a 5.1 per cent drop in revenue to €6.9 billion. For the first nine months of 2016, net income was €433 million on a 3.5 per cent fall in revenue to €18.7 billion.
Cargo revenue continued to decline in Q3 – falling 16.6 per cent compared to the same period last year to reach €487 million. Another operating loss added €100 million to the group’s Q3 2015 cargo loss of €81 million.
Revenue from cargo for the first nine months was €1.5 billion, down 16 per cent from €1.8 billion in 2015, with the Air France-KLM-Martinair loss for the two consecutive nine-month periods now exceeding €430 million.
One MD11 freighter was retired during Q1 2016 and two more left Martinair last July, reducing the group’s maindeck fleet to six. Acknowledging the future strategy for cargo will be “to seize opportunities in the airfreight market,” Air France-KLM described it as “support of the passenger activities” with a focus on the “utilisation of long and medium-haul aircraft bellies”.
On 23 October 23 KLM renewed service to Tehran four times week after ceasing services three years ago.