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Air France KLM Group reports profit for fiscal 2010-11 news
20 May 2011

The Air France KLM Group has reported a profit of 613 million ($873.5 million) for the fiscal year ended 31 March 2011, reversing a 1.6 billion deficit in the fiscal 2009-10. The group acknowledged a ''more favourable economic environment'' and its own cost-cutting measures for the turnaround.

Full-year revenue was up 12.5%, at 23.61 billion, as were operating costs, at 5.4% to 23.49 billion. Operating result was 122 million, reversing a 1.29 billion loss in the prior year.

''We have seen a contrasted year, with on the one hand a more favourable economic environment, but on the other a number of exceptional events affecting our operations,'' said CEO Pierre-Henri Gourgeon.

''Nevertheless, the strategic actions launched last year enabled us to return to profit in spite of a 1 billion rise in our fuel bill and the impact of the various crises.''

For its fiscal fourth-quarter ended 31 March, AF-KLM reported a 367 million net loss, narrowed from a 691 million deficit in the year-ago period. The quarter was affected by the earthquake in Japan and political crises in the Middle East and Africa.

Fourth-quarter revenue was up 6%, to 5.33 billion even as operating loss was pared marginally, to 403 million, from 497 million in the year-ago quarter.

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Air France KLM Group reports profit for fiscal 2010-11