How many AIRLINES are MAKING MONEY!?...not many...AIR FRANCE
is doing very well despite the HUGE run up in fuel last quarter
Air France KLM profit up despite fuel
Spending on jet fuel up 27% to 1 billion euros
E-mail | Print | | Disable live quotes By August Cole, MarketWatch
Last Update: 1:36 PM ET Feb 16, 2006
SAN FRANCISCO (MarketWatch) -- Air France KLM, the biggest carrier in Europe, reported higher fiscal third-quarter earnings more than tripled on Thursday even as jet fuel spending rose 27% to 1 billion euros.
Improving pricing and full planes helped the quarter's results, the company said.
The company's (FR:003112: news, chart, profile) net income totaled 77 million euros ($91.7 million), or 0.29 euro a share, up from 23 million euros, or 0.09 euro a share.
The company's largest expense was labor costs, up 4.3% to 1.59 billion euros. Spending on ticket distribution was cut, however.
Operating income totaled 190 million euros, up from 20 million euros.
Revenue in the three-month period rose 12% to 5.43 billion euros, up from 4.83 billion euros. Traffic in the quarter rose 11% as capacity was increased by 7.6%.
With Easter this year in April, Air France KLM said that its results for the fiscal fourth quarter ending in March will be affected by the later holiday.
For 2006, operating income is expected at 900 million euros. |
