Air France net consolidated results show a profit for the first half-year 1995/96.PARIS--(BUSINESS WIRE)--Jan. 17, 1996--The final results for the 1995/96 first half-year covering the period from April 1st to Sept. 30, 1995 were presented to the Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde Board of Directors today. The net consolidated results of Air France showed a FF 232 million profit during this period, compared with a loss of FF 477 million over the same year-eariler period (pro-forma results excluding Meridien and Air Inter Air Inter was France's foremost domestic airline as well as the largest scheduled domestic carrier in Europe. Air Inter was officially incorporated on November 12, 1954. ). These results include a reserve of FF 630 million for the cabin crew cabin crew cabin n (Aviat) → équipage m redundancy scheme, but also reflect the positive effect of the sale of the Group's shareholding in Sabena, amounting to close to FF 380 million. Air France reported a consolidated pre-tax profit of FF 355 million over this period, an improvement of almost FF 1.2 billion over the previous year. The operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. rose to FF 955 million, FF 630 million more than in 1994. The restated accounts of Air France alone showed a pre-tax profit (excluding extraordinary items) of FF 221 million. As the company's restated accounts do not include capital gains earned on the sale of the Air France Group's shareholding in Sabena, the net loss posted for the first half-year amounted to FF 335 million, taking into account a reserve for the cabin crew redundancy scheme. It is necessary to point out that the first six months of the year correspond to the company's busiest period of activity and that these results cannot be extrapolated to a twelve-month period. Air France had set itself the target of limiting its losses to FF 1.2 billion francs for the full fiscal year, excluding the reserve for the cabin crew redundancy scheme. However, the industrial unrest industrial unrest n (BRIT) → agitación f obrera industrial unrest n (Brit) → agitation sociale, conflits sociaux in France in December is likely to affect the results, as the impact on passenger and cargo revenues has been estimated at FF 300 million at least. CONTACT: Air France Media Contact: Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Haxthausen 212/830-4482 |
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