Air France-KLM profit beats estimates in Q3
Air France-KLM’s run of good news has continued with a strong set of Q3 results, showing pre-tax profit up 7.3% to E915m in the 3 months to the end of September. After securing a new CE and a wage deal with the majority of its unions in recent months, AF-KLM beat analysts’ consensus for revenue at E7.55b, up 5.8%t at constant currency and operating profit of E1.07b, 11% above consensus. The quarter’s numbers could not entirely rescue the company’s results for the year to date, badly affected by strikes which cost it E335m in the first half. In the first 9 months, pre-tax profit was down 45.3%, and both Air France and the stronger KLM had negative operating margins of -3.5% and -0.7% respectively. The company said passenger revenue would increase in the final quarter, but it warned that fuel still had further to rise. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-01/sky/air-france-klm-profit-beats-estimates-in-q3
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Air France-KLM profit beats estimates in Q3
Air France-KLM’s run of good news has continued with a strong set of Q3 results, showing pre-tax profit up 7.3% to E915m in the 3 months to the end of September. After securing a new CE and a wage deal with the majority of its unions in recent months, AF-KLM beat analysts’ consensus for revenue at E7.55b, up 5.8%t at constant currency and operating profit of E1.07b, 11% above consensus. The quarter’s numbers could not entirely rescue the company’s results for the year to date, badly affected by strikes which cost it E335m in the first half. In the first 9 months, pre-tax profit was down 45.3%, and both Air France and the stronger KLM had negative operating margins of -3.5% and -0.7% respectively. The company said passenger revenue would increase in the final quarter, but it warned that fuel still had further to rise. <br/>
