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Air France-KLM posts Q3 net loss of €505m

AIR France-KLM says it posted a loss in the three months to December as the economic crisis deepened, hurting business class travel and cargo traffic and depressing fares.

Europe's largest airline reported today a net loss of €505 million (US$648 million) in its fiscal third quarter, compared with a profit of €139 million a year earlier. It posted an operating loss of €194 million, confirming a January warning.

Revenue fell 0.1 percent to €5.97 billion.

The Paris-based company said it still aims for a profit in the full year ended March, but the level will depend on the economic environment. Air France-KLM said it is seeking cost cuts and reduced capacity to adapt to the gloomy environment.

The group's finances are "very solid," the company said.


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