KLM suffered a €94 million ($81 million) net loss for the third quarter, compared with a €4 million profit in the same quarter a year ago. The result was better than expected due to cost reduction measures implemented after the downturn that followed 11 September, says chief executive Leo van Wijk. Operating loss for the quarter, to 31 December, was €76 million compared with a profit of €94 million a year earlier. Cost-cutting measures included cutting frequencies and operating smaller aircraft.
Source: Flight International
