The Air France-KLM-Martinair Cargo group has said it is currently studying the future of its cargo business and the role of dedicated freighters within that business. The results of this study, expected to be announced by mid-July, cover anything from continuing with the status quo, to drastic action that could include exiting dedicated freighter operations altogether, the group’s senior cargo management said recently. Speaking at a press conference at Amsterdam Airport … [Read more...] about “All options” on the table for AF-KLM group
AF-KLM
AF-KLM sinks deeper into red
The Air France-KLM group reported this week its biggest loss since the merger of the two carriers in 2004 with a loss of of €1.56 billion for the full-year ended 31 March, up from a loss of €814 million a year earlier. Revenue fell 15 per cent year-on-year to €21 billion. The group's finances were starting to improve at the end of 2009 on signs of an upswing in traffic, but earnings have been pulled down since April due to the impact of ash clouds from an Icelandic volcano, … [Read more...] about AF-KLM sinks deeper into red
AF-KLM follows Lufthansa in announcing hefty rate hikes
Following closely on the heels of Lufthansa Cargo’s recent announcement that it will raise its rates by 25 per cent, Air France-KLM Cargo has followed suit with a similar announcement of rate hikes. In a nearly identical move by AF-KLM, the Franco-Dutch carrier announced via an email to its customers that it would increase its rates by as much as 30 per cent from next month. “The results of Air France Cargo-KLM Cargo are under severe pressure given the extraordinary market … [Read more...] about AF-KLM follows Lufthansa in announcing hefty rate hikes
AF-KLM pulls out of Czech talks
Air France-KLM has pulled out of talks to take over Czech Airlines (CSA) citing the current economic downturn. “The current economic environment has significantly impacted the airline business. Under such circumstances, Air France-KLM believes that CSA might focus on developing and implementing a stand-alone recovery plan aimed at restoring its profitability,†AF-KLM said. The ailing state-owned carrier is up for privatisation and AF-KLM’s withdrawal from talks leaves only … [Read more...] about AF-KLM pulls out of Czech talks
US anti-trust restrictions lifted for AF-KLM
Air France Cargo and KLM Cargo have announced the integration of their commercial activities in the US, effective 1 October as a result of US regulators lifting anti-trust restrictions that had previously prevented such an integration. This integration will result in integrated commercial teams under a joint management coordinated with Delta Cargo within the Air France-KLM-Delta financial joint venture on North Atlantic routes. … [Read more...] about US anti-trust restrictions lifted for AF-KLM
AF-KLM sees cargo revenue drop 42% in Q1
Air France-KLM has posted a 20.5 per cent drop in fiscal first-quarter sales this week as the continuing weak economic climate depressed air travel and freight demand. Overall revenue totalled €5.19 billion in the three months to 30 June. Cargo revenue dropped 41.5 per cent to €544 million due to a decline in volumes of 22.7 per cent, a 17.2 per cent cut in capacity and a 25.1 per cent fall in yields. Sales in the carrier's passenger business fell 18.7 per cent to €4.01 billion … [Read more...] about AF-KLM sees cargo revenue drop 42% in Q1