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Air France-KLM reports less loss in Q1

Xinhua, April 30, 2015 Adjust font size:

Air France-KLM suffered another loss in the first quarter of 2015, but this loss was lower than the same quarter one year ago, the Franco-Dutch airline announced on Thursday.

The operating loss was 417 million euros (467 million U.S. dollars) in Q1 of 2015, an improvement of 28 million euros compared to one year ago. The net loss was 559 million euros, up 49 million euros compared to the 608 million euros loss of the first quarter of 2014.

According to Air France-KLM the results were affected by the still weak economic environment in several key markets, ticket prices, and significant currency volatility. These factors partly offset the benefits of lower fuel prices.

EBITDA (earnings before interest, taxes, depreciation, and amortization) grew by 29 million euros (up 91 million euros like-for-like) from -50 million in Q1 2014 to -21 million in Q1 2015. The revenue of 5.656 billion euros in the first three months of this year was an improvement of 1.8 percent compared to the revenue of one year ago, which was registered at 5.554 billion euros.

The net debt was 5.28 billion euros, down 127 million euros compared to Dec. 31, 2014 (5.407 billion euros). The goal of Air France-KLM is a significant reduction of net debt, to around 4.4 billion euros by the end of 2015. (1 euro = 1.12 U.S. dollars) Endit