Air France-KLM losses deepen in Q2
July 31 , 2012
Europe's biggest airline, Air France-KLM, has reported a loss of $1.1bn in the three months to June compared to a $241.5 million loss the previous year.
The figures come on the back of a one-off charge of $451 million to cover redundancy payments as part of plans to cut 10 percent of its workforce.
Meanwhile, revenues rose 4.5 percent to $7.9 billion with the number of passengers increasing by 2.4 percent.
However, the carrier recorded a drop in its freight business due to tough economic conditions in Europe.
The airline also bore the brunt of rising fuel costs, which increased by $574 million.
Operating losses narrowed to $80.9 million from $177.7 million the year before.