Record loss for Air France-KLM
Wednesday, 20 May, 2010
0
A record annual net loss of £1.33 billion has been disclosed by Air France-KLM for 2009-10.
The figure is almost double the loss reported for the previous financial year.
The result came in advance of British Airways results tomorrow (Friday) which are also expected to show a further plunge into the red.
Air France-KLM blamed a fall in air traffic, sky high fuel prices and the fatal Rio-Paris air crash of almost a year ago.
Chief executive Pierre-Henri Gourgeon said that 2009-10 financial year would go down as the company’s "annus horribilis".
He said: "The global economic crisis had a profound effect on the entire airline industry. In addition, Air France-KLM had to contend with the tragedy of the Rio-Paris accident of June 1st 2009.”
The airline said it expects to break even this year, excluding the impact of pre-2009 fuel hedges and subject to the cost of disruption due to the ash cloud.
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Marginal increase for New York City tourism in 2025
Hands In, UATP join forces for airline multi-card payments