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Air France-KLM suffers loss of $826 million

Last Updated: Saturday, May 4, 2013 - 15:11

The Hague: The Air France-KLM group suffered a net loss of 630 million euros (USD826 million) in the first quarter of 2013, the French-Dutch air company announced.

Air France-KLM said its losses mounted sharply in the first quarter compared with a loss of 368 million euros a year earlier, principally because of a disappointing revenue performance, reported Xinhua.

The airline group, in the midst of a three-year turnaround plan, said it hopes to strengthen its position by paying down debt and reducing staff costs further.

The company saw passenger activity rise 0.8 percent in the quarter while capacity was held nearly steady. Passenger revenue rose 1.4 percent to 4.5 billion euros.


First Published: Saturday, May 4, 2013 - 15:11
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