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Air France-KLM reduces losses in Q1

Xinhua, May 4, 2016 Adjust font size:

Air France-KLM reduced net losses and had stable revenues in the first quarter of 2016, the Franco-Dutch airline announced on Wednesday.

Net loss amounted to 155 million euros (178.11 million U.S. dollars) in the first quarter of 2016, compared to a loss of 559 million euros in same period one year ago.

Revenues in the first quarter were 5.605 billion euros, compared to 5.583 billion euros in Q1 of 2015, up 0.4 percent.

Group CEO Alexandre de Juniac said there was a clear improvement of Air France-KLM's financial indicators in the first quarter of 2016.

"Despite a difficult environment marked in particular by the Brussels attacks, the group could limit the unit revenue decline and retain a substantial part of the fuel savings. Unit costs have decreased during the quarter in line with the objectives set at the beginning of the year," he said.

Air France-KLM said there was high level of uncertainty regarding fuel prices and unit revenue due to geopolitical context and industry capacity.

On May 1, the board of directors of the group named Jean-Marc Janaillac as successor of De Juniac, who leaves his position by the end of July to become the chief of airline body IATA.

The 63-year-old Janaillac has been CEO of Transdev, an international transportation group, since 2012. Enditem