Air France-KLM cargo profits climb 30 per cent

A STRONG fourth quarter has helped Air France-KLM back to profit for the 2010/2011 financial year.

During the last quarter cargo traffic was stable for capacity up by 2.6 per cent, leading to a 1.8 per cent drop in load factor to 67.7 per cent. Unit revenue per available tonne kilometre was up 11.4 per cent. Revenues amounted to €769 million (US$1.1 billion), 14.1 per cent, while the operating result was close to break-even, a loss of €9 million ($12.8 million) compared with a loss of €63 million ($89.9 million) a year earlier.

For the year, cargo traffic progressed by 2.5 per cent for slightly lower capacity (-0.3 per cent) leading to a rise in load factor of almost two per cent to 68.4 per cent. Total cargo business revenues for the year were up 29.5 per cent.

“We have seen a contrasted year, with on the one hand a more favourable economic environment, but on the other a number of exceptional events affecting our operations,” Pierre-Henri Gourgeon, chief executive officer, commented. “Nevertheless, the strategic actions launched last year enabled us to return to profit in spite of a €1 billion euro ($1.43 billion) rise in our fuel bill and the impact of the various crises. The improvement of some €1.4 billion euros ($2 billion) in our operating result required a significant mobilisation by all the group’s employees.”

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