Air France/KLM Reports 505 Million Euro Quarterly Loss

Air France/KLM reported that its third quarter reflected the deepening economic crisis. It reported stable revenues of 5.97 billion euros, a negative impact of fuel hedges on results, an operating loss of 194 million euros and a net loss of 505 million euros.

The company said it plans to cut 1,000 to 1,200 jobs this year through a hiring freeze and by not replacing retirees.

For the nine months to Dec. 31, it reported revenues were up 3 percent to 18.96 billion euros, it had an operating income of 445 million euros and a net income of 103 million euros restated for non-recurrent and non-cash items.