Air France KLM has released its financial results for the six months to June, net losses of €614 million.

However, this was an improvement of €185 million on the same period of last year.

Air France KLM board of directors chairman Alexandre de Juniac, said: “Despite a tough operating environment, the Air France-KLM Group maintained the momentum of its recovery in the first half of 2014, by halving its operating loss.

“Quarter after quarter, our results are consistently reflecting the benefits of the productivity measures implemented under Transform 2015.”

Revenues for the period reached €12.01 billion euros, up one per cent like-for-like on the same period of 2013.

de Juniac added: “Transform 2015 will be completed in a few months.

“While maintaining the imperatives of competiveness and the ongoing strengthening of the group’s financial position, the successor plan will also focus on growth.

“The plan will be thus be named ‘Perform 2020’, and we will give a detailed presentation of its main components in September.”