Air France-KLM said Thursday that net profit for the third quarter sharply fell amid a difficult market environment.
Net profit during the period fell more than 50% to 366 million euros ($407 million), the Franco-Dutch carrier AF, -4.73% said. The phase out of the Airbus A380 hit profit by EUR100 million, while a strong dollar also had a negative impact, it said.
Revenue rose 2% to EUR7.70 billion, while the operating result dropped 16% to EUR900 million, the carrier said.
Unit costs edged up 0.4% over the period, but Air France-KLM confirmed its 2019 target of a unit cost decrease.
“Air France-KLM group’s performance in the third quarter showed resilience amid geopolitical uncertainties and softening macroeconomic environment,” Air France-KLM Chief Executive Benjamin Smith said.
The company expects its 2019 fuel bill to increase by EUR600 million to a total of EUR5.5 billion after booking a EUR135 million rise in third-quarter fuel bill.
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