Air France-KLM Posts 26% Rise in Q2 Profit
By Andrea Rothman, Shanghai Daily | Nov. 24, 2006
On November 23, Air France-KLM Group, Europe's biggest airline, reported that its second-quarter profit rose 26 percent on increased demand for travel to Asia and North America as well as higher ticket prices.
Net income for the period ended on September 30 increased to 374 million euros (US$484.8 million), or 1.30 euros a share, from 298 million euros, or 1.11 euros, a year earlier, excluding the gain from the sale of a stake in Amadeus Global Travel Distribution SA, said Chief Operating Officer Pierre-Henri Gourgeon in Paris. Revenue rose 8.8 percent to 6.13 billion euros, Bloomberg News said.
"Things are going extremely well," said Gourgeon. "We continue to take market share with transfer traffic in Europe and around the world."
Chief Executive Officer Jean-Cyril Spinetta, 63, who led Air France's purchase of KLM in 2004, used higher fares as well as oil surcharges to help push up profits. Air France attracted overseas travelers with its two bases in Paris and Amsterdam for connecting flights.