Arab Today, arab today air franceklm returns to operating profit as net loss mounts
Last Updated : GMT 14:55:50
Arab Today, arab today
Arab Today, arab today

Air France-KLM returns to operating profit as net loss mounts

Arab Today, arab today

Arab Today, arab today Air France-KLM returns to operating profit as net loss mounts

Paris - AFP

French airline Air France-KLM, struggling against low-cost competition, raised operating performance last year despite an increased net loss, the company reported on Thursday. The Air France group, the second-biggest airline in Europe after Lufthansa of Germany, reported that its restructuring efforts had generated a switch back in to an operating profit of 130 million euros. The airline is trying to adjust to established low-cost competition and to the rise of relative newcomers in the Middle East and Asia, all in the context of a weak economic climate in several of its markets. The net result showed an increased loss of 1.83 billion euros ($2.5 billion) last year from 1.22 billion euros in 2012. But finance director Pierre-Francois Riolacci said this reflected a technical writedown related to tax flows and had absolutely no effect on the company's cash position and solvency. Sales edged up slightly by 0.4 percent to 2.52 billion euros. Air France shares were almost flat, with a gain of 0.03 percent to 9.09 euros in early trading. Chief executive Alexandre de Juniac, in charge of the company for less than a year, told journalists when the results were published that "we do not need a capital increase because our ratios are improving". In a results statement, he said: "2013 marked an important stage in the group's turnaround. We are clearly benefiting from the successful implementation of new working conditions and of the industrial plans adopted in all our businesses." The company launched radical cost-cutting measures and steps to change work practices two years ago, and had to adapt extra measures in October. These latest steps were being put into effect for medium-haul and cargo activities and "will start to bear fruit in the second half," de Juniac said. The group continued to focus on "strict cost discipline". Under the three-year restructuring, called "Transform 2015", the Air France part of the group shed 5,122 jobs in 2012 and announced a further 2,800 last year. Between 2011 and 2015, the company would have cut about 10,000 jobs, de Juniac said. At the end of 2013 the group employed nearly 97,000 people from 106,000 in 2011. - Partnership in Brazil - The group had been bleeding cash and was also being strangled by high debt. De Juniac said that last year debt had been reduced beyond targets to 5.3 billion euros at the end of 2013 from 5.9 billion euros at the end of 2012, a reduction of 618 million euros. The group is counting on its low-cost tourism airline Transavia to win back market share from low-cost airlines, but this unit's operating performance showed a net loss of 23 million euros after a balanced outcome in 2012. Late on Wednesday, the group said it had signed a strategic partnership with Brazilian airline Gol Linhas Aereas Inteligentes, offering Air France-KLM a stronger position in South America. Brazil, which is to host the football World Cup this year and the Olympic Games in 2016, is a source of rising business traffic, the French group said. The group already has an agreement with US company Delta Airlines for trans-Atlantic routes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today air franceklm returns to operating profit as net loss mounts Arab Today, arab today air franceklm returns to operating profit as net loss mounts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today air franceklm returns to operating profit as net loss mounts Arab Today, arab today air franceklm returns to operating profit as net loss mounts

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday