Air Transport World

KLM.(Europe report)(profit reports)(Brief Article)

KLM scratched out an 8 million [euro] ($10.1 million) profit for the fiscal third quarter ended Dec. 31, reversing a loss of 66 million [euro] in the comparable 2002 quarter. President and CEO Leo van Wijk attributed the improvement largely to the carrier's ongoing cost-reduction exercise, which contributed 60 million [euro] in savings in the quarter. The success of the budget-cutting also caused KLM to raise its expectations for the fiscal year ending March 31 from a breakeven operating result to a "clearly positive operating income" and "near-breakeven" net income. Total operating revenues dropped 7. …

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