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Air France-KLM reports net loss in Q2

Xinhua, July 24, 2015 Adjust font size:

Air France-KLM posted a net loss of 79 million euros (86.5 million U.S. dollars) in the second quarter of 2015, compared to a loss of 11 million euros in the same period last year, the Franco-Dutch airline said on Friday.

The company's net loss in the whole first half of 2015 was 638 million euros, compared to 619 million euros in the first half of 2014.

The revenues of 6.642 billion euros in the second quarter were 3 percent higher than the 6.451 billion euros of the same period in 2014. In the first half of 2015, the company's total revenues were 12.298 billion euros, also slightly higher than the 12.005 billion of one year ago.

"In the First Half 2015, Air France-KLM's results were characterized by exceptional volatility in exchange rates and the fuel price, and by on-going pressure on unit revenues," CEO Alexandre de Juniac commented in a statement.

Due to the bad results, Air France-KLM launched immediate cost-saving measures. "In particular, the closure of heavily loss-making routes," De Juniac added.

The company did not say which routes would be closed completely, but declared that on top of the 1.5 billion euros two-year cost-cutting target already underway, it was forced to add 300 million euros of cuts in administrative costs. Enditem