Air France-KLM: returns to profit in Q2
(CercleFinance.com) - On Friday Air France-KLM announced that it returned to profit in Q2, benefiting from the strong recovery in air transport and its ongoing transformation programs.
The company announced net profit of 324 million euros in April-June, against a loss of almost 1.5 billion euros in Q2 2021.
EBITDA was also positive again, reaching 931 million euros, compared with a loss of 249 million euros a year ago, while revenues more than doubled to 6.7 billion euros.
In a cost environment deemed "difficult" - which saw its fuel bill triple - the group explains that its organisational transformation strategy has enabled it to limit the increase in unit costs to 2.4%.
The carrier, which expects to operate between 80% and 85% of its 2019 capacity in Q3, said it expects a "clearly positive" operating result in Q3.
Its operating result should also be positive for FY 2022, the first time this has happened since 2019, it continued.
At around 9.30am, Air France-KLM shares are currently up almost 7%, largely outperforming the SBF 120. The stock has risen by nearly 10% over the past month, taking its market capitalisation to over 3.4 billion euros.
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