Air France-KLM Profit Drops As US Demand Weakens [Barron's]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
Company Research
Source: Barrons
Its profit after tax fell seven percent to 768 million euros ($884 million) in the July-September period but it maintained its financial targets for the full year. Advertisement - Scroll to Continue Air France-KLM was also hit by a soft performance in its cargo unit and lower-than-expected results at its budget carrier Transavia during the key summer season, but it benefited from a sharp fall in fuel prices. "During the third quarter, Air France–KLM once again demonstrated its resilience in a challenging environment," chief executive Benjamin Smith said in a statement. Air France-KLM shares fell almost 12 percent in morning deals on the Paris stock exchange. The group said passenger numbers rose 4.7 percent year-on-year over the summer, reaching 29.2 million between July and September. Advertisement - Scroll to Continue But it also added more seats than it could fill. As a result, its planes were slightly less full on average, with 88.8 percent of seats occupied compa
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