Fuel costs and cargo slump drag Air France-KLM profits down in 2019

Air France-KLM’s full-year operating profits slipped nearly a fifth in 2019 as higher fuel costs and a deteriorating cargo market hit its performance. The carrier group posted an operating profit of E1.14b (US$1.23b), down 18.8% on the 2018 figure. Net profit fell E130m to E290m for 2019. While group revenue climbed 3.3% to reach E27.2b, it cites higher fuel costs as impacting its bottom line in 2019. The group’s fuel bill increased around 10% to E5.5b during the year. KLM continues to deliver the bulk of overall group profits. The Dutch carrier contributed E853m to the group operating profits in 2019 – though this represented a fall of E238m on the previous year. Air France delivered a full-year operating profit of E280m, down E41m on the 2018 figure. These respective figures incorporate Transavia and the maintenance division contributions. <br/>