Air France-KLM posts solid Q3 performance

Air France-KLM Group’s cargo business continued to perform solidly during the quarter ended September 30, contributing to an overall strong result for the carrier.
During the three months, Air France KLM Martinair Cargo carried 289,000 tons of airfreight – up by 3.5% year on year. Traffic increased 3.7% to 2,204m revenue tonne-km.
Cargo capacity, meanwhile, rose by 1.6% compared to the third quarter of last year, to 3,787m available tonne-km.
The group noted “a buoyant demand environment particularly in Asia and North America”, with Latin America also performing well in spite of local challenges.
In addition: “Revenue management steering generated higher yields in both full freighters and bellies, resulting in a unit revenue increase of 6.7% in the quarter.
 “The new digital customer platform is proving successful and contributing to sales growth, with an increase in the direct sales channel. Electronic air waybill (e-AWB) usage by our customers rose to a level of 73% in the third quarter 2018,” the airline said.
The group’s revenue rose by 4% overall compared to the third quarter of 2017, to €7.5bn. It posted an operating result of just over €1bn for the July-September period – €77m lower than last year, but €11m higher at constant currency.
“The strong sales performance and efforts to reduce unit cost helped to offset the major portion of the fuel and currency headwinds,” it said, adding that Air France signed a pay agreement with unions in October that will bring stability to the business.
While the demand outlook remains positive, the group cautioned that the global context remains uncertain given the current geopolitical environment and rising fuel price trends.

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