Air France-KLM has succeeded in reducing its operating loss during fiscal year 2012, but its results were hit by restructuring costs, an appreciation of the dollar against the euro and rising fuel prices, which led to an increase in its net loss.
The SkyTeam carrier narrowed its operating loss for the full year to €300 million ($396 million) from €353 million during 2011.
However, its net loss widened to €1.19 billion from €809 million a year earlier.
The airline's fuel bill rose by €890 million to €7.33 billion for the year, mainly as a result of the appreciation of the dollar.
Total revenue climbed by 5.2% year on year to €25.6 billion, while net debt for the six months ended 31 December 2012 fell to €5.97 billion compared with €6.51 billion a year ago, notably as a result of the partial sale of Amadeus shares.
Air France-KLM reported an improvement in both its operating and net losses for the fourth quarter of 2012, with its operating loss down to a loss of €143 million for the period ended 31 December in comparison with a loss of €202 million a year earlier. Its net loss for the quarter narrowed to €235 million from €259 million in the fourth quarter of 2011.
Source: Air Transport Intelligence news
