Air France KLM reports strong results

Air France KLM have reported strong half-year results and a particularly good second quarter with operating income up 27.6% to 725 million euros

First half revenues are up 4.2% to 12.43 billion euros and operating income for the full half year up 16.4% to 1.14 billion euros. The adjusted operating margin of 10%, up almost 1 point.

Jean-Cyril Spinetta made the following comment on the results: “Robust global growth continues to underpin demand, especially on long-haul where our strong network remains a major advantage. A feature of our trading environment in the past six months has been the rise in oil prices to record levels. These excellent first half results therefore also reflect ongoing group-wide efforts to contain costs. This ability to control costs remains a key factor as we pursue our global development while respecting our environmental commitments.” The chairman added: “Taking account of dynamic market conditions we confirm our objectives of a further rise in operating income and a return on capital employed of 7% after tax for the full year, up from 6.5% last year. “