Air France loss widens, buffeted by higher fuel costs, fierce competition
PARIS - Air France-KLM blamed higher fuel costs and tough price competition as it posted a deeper first-quarter loss that caused its shares to fall.
The operating loss widened to 303 million euros from 185 million euros, and Air France KLM’s shares fell by around 3 percent in early session trading. Air France-KLM said it saw “improving trends” and a “more benign industry supply outlook” - with a slowdown in Gulf carriers’ growth plans - as it reiterated pledges to keep a lid on debt in 2019 while continuing to cut non-fuel costs.
Non-fuel costs fell 0.4 percent before currency effects, which pared another 34 million euros off earnings. But forward long-haul bookings are up for the summer season, the company said, with gains of 1 percent for May-June.
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