(AOF) – Air France KLM posts one of the biggest drops in the SBF120 (-3.77% to 9.69 euros) after the publication of its quarterly results. The airline group posted a net loss of 480 million euros compared to 337 million a year ago, despite a turnover increasing by 5.1% to 6.7 billion euros. Negative of 489 million, the operating result was “impacted by costs linked to operational disruptions and by a reduction in cargo unit revenue” underlines the group. Air France KLM had suffered an operational loss of 306 million euros a year earlier.
It forecasts that capacity in available seat kilometers will increase by 5% in 2024.
“The operating result was lower than the previous year by around 190 million euros,” underlines Pilar Auguets, director of the European public services and transport departments at Fitch Ratings. “This situation is more linked to the underperformance of non-fuel costs, while the evolution of revenues was positive.”
Unit revenue per passenger group, “increased 2.1% year-on-year, driven by strong demand and yield developments in most markets, despite some headwinds from the geopolitical context (Middle East and Africa),” she explains.
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