Cheaper Fuel Delivers Air France-KLM Profit

(Photo: Boeing)

(Photo: Boeing)
(Photo: Boeing)
Air France-KLM has announced its first profit since 2010 and says the results were boosted by lower fuel costs and higher passenger numbers.
The airline recorded an operating profit of €816m for 2015 compared with a €129m loss for 2014.
Cheaper oil reduced the company’s fuel bill by 6.7% to €6.18bn although it said existing fuel hedging contracts limited the extent of the savings.
Looking forward, the company has highlighted that lower air fares will partly offset the expected gains from cheaper fuel this year.
Air France-KLM issued a statement explaining: “The global context in 2016 remains highly uncertain regarding fuel prices, the continuation of the overcapacity situation on several markets, and the geopolitical and economic context in which we operate.”