Air Transport World

KLM Group.(fiscal first-quarter earnings)(Brief Article)

KLM Group, already anticipating a full-year net loss, posted a deficit of 54 million [euro] ($62 million) for its fiscal first quarter ended June 30 compared to income of 11 million [euro] last year. "Our first-quarter results continue to reinforce the necessity of structural changes going forward," noted President and CEO Leo van Wijk. Group operating revenues fell 16% to 1.42 billion [euro] with passenger revenues plunging 17% to 960 million [euro], reflecting a 9% decline in RPKs and an 11% drop in yield including currency effects. Operating expenses were down 9.9% to 1.48 billion [euro], resulting in an operating loss of 66 million [euro] versus income of 41 million [euro] last year. …

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