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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Air FranceKLM | EU:AF | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.016 | -0.16% | 9.97 | 9.94 | 10.20 | 10.22 | 9.958 | 10.07 | 1,674,326 | 16:40:00 |
PARIS--Franco-Dutch airline group Air France-KLM (AF.FR) will continue to cut costs after it managed to trim losses in the second quarter, it said Friday.
Despite negative foreign-exchange affects Air France-KLM cut operating costs 3.8%. It spent 5.6% less for fuel and 3.4% for employee costs.
Second-quarter net loss was 6 million euro ($8.1 million) compared with 158 million euro loss in the same period a year ago. Revenue fell to 6.45 billion euro from 6.54 billion euro. Currency swings chopped 168 million euro from sales revenue.
"Despite a tough operating environment the Air France-KLM Group maintained the momentum of its recovery in the first half of 2014," Chief Executive Alexandre de Juniac said in a statement.
In the first half of the year net loss narrowed to 614 million euro compared with 799 million euro.
Europe's largest airline by traffic has suffered losses on short- and medium-haul routes because of competition from discount carriers.
Earlier this month it lowered expectations for the year following weak bookings.
Write to Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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