Arab Today, arab today air franceklm shares soar on return to black
Last Updated : GMT 10:17:09
Arab Today, arab today
Arab Today, arab today

Air France-KLM shares soar on return to black

Arab Today, arab today

Arab Today, arab today Air France-KLM shares soar on return to black

The stocks of Air France-KLM was up 9.4 percent to 8.15 euros two hours into trading
Paris - AFP

Shares in Air France-KLM soared Thursday after the group posted its first annual operating profit since 2008 on reduced costs, notably due to lower fuel prices.

The stock price of Europe's largest carrier was up 9.4 percent to 8.15 euros two hours into trading, as the carrier unveiled net 2015 profits of 118 million euros ($131 million).

"The group has published results which outstrip expectations," said analysts at broker Aurel BGC.

The airline had posted a 225-million-euro loss in 2014.

Chief financial officer Pierre-Francois Riolacci indicated lower fuel costs were clearly a boon, cutting the 2015 bill by 450 million euros, with the 2016 gain set to be around $2 billion.

The French-Dutch group was badly hit by the Islamist attacks on Paris in November, with an estimated 70 million euros slashed from that month's revenues.

The carrier said the effect had largely worn off by year-end but put the overall impact at some 120 million euros.

Chairman and CEO Alexandre de Juniac had said in January he expected a return to the black due to restructuring measures and the "favourable environment" of lower fuel prices.

But the carrier said it remained cautious on this year owing to economic uncertainty.

"We shall not pare back our ambition to improve our competitive position while economic and geopolitical uncertainties remain high," said De Juniac.

The chairman said management had to be vigilant as the group continues to "negotiate agreements with our staff that target an improvement in our competitive position" vis-a-vis European rivals.

Last year saw the carrier engaged in at times bitter talks with staff as it looks to push through its "Perform 2020" growth plan.

In October, six workers were arrested after staff ripped off executives' shirts in an angry protest over 2,900 planned redundancies.

Management last month unveiled a fresh 2017-2020 growth plan comprising 1,600 voluntary departures by the end of next year, according to union sources.

Air France is facing tough competition from Gulf-based competitors for long-haul business and from low-cost rivals for short-haul market share.

 

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 shares soar on return to black Arab Today, arab today air franceklm shares soar on return to black

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:57 2017 Sunday ,26 February

Huawei wins MRM Business Innovation Award

GMT 08:49 2017 Saturday ,25 February

Shell plans $300 mn investment in Argentina shale

GMT 05:40 2017 Saturday ,25 February

British Airways owner reports profit

GMT 15:19 2017 Thursday ,23 February

Companies' commitment to Bahrainisation quotas praised

GMT 14:48 2017 Thursday ,23 February

Etihad Airways Engineering signs deal with Kenya Airways

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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