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Air France-KLM says resilient start to year is continuing
May 4, 2017 / 5:21 AM / 6 months ago

Air France-KLM says resilient start to year is continuing

BERLIN/PARIS, May 4 (Reuters) - Air France-KLM said a resilient start to the year had continued, with demand recovering from Asia and south America as it reported first quarter results in line with expectations on Thursday.

The Franco-Dutch group reported a first quarter operating loss of 143 million euros ($156 million) and revenues of 5.7 billion, in line with average analyst expectations for a loss of 145 million euros and revenues of 5.76 billion euros in a Reuters poll.

After years of falling ticket prices, some major European carriers are seeing fare declines slow down and have made more upbeat comments on pricing for 2017, against a backdrop of increased travel demand and rising oil prices.

Air France-KLM, one of the first carriers to report an improvement in pricing earlier this year, said unit revenues fell 0.5 percent in the first quarter, compared with a drop of 5 percent for 2016 as a whole.

Air France-KLM also stuck to a target for a reduction of unit costs of at least 1.5 percent this year. Unit costs fell by 1.7 percent in the first quarter at constant exchange rates.

$1 = 0.9180 euros Reporting by Victoria Bryan and Cyril Altmeyer; Editing by Sudip Kar-Gupta

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