Company Watch - Air France-KLM Group.
Air France last Thursday moved all its flights to the United States to Terminal 2E at Paris-Charles de Gaulle except for services to Detroit and Cincinnati. Passengers who have up to now passed through this terminal (mainly operations to African destinations) have been transferred to other international terminals at Paris-CDG2, mostly to 2C. These changes have been brought about by the additional security measures recently introduced. Air France operates flights to 13 cities to the USA, a total of 22 daily flights. The airline strongly advise customers to check on its Internet site and make provision for connections when transferring to and from its UK regional destination. http://www.airfrance.com Sep 2, 2006
Air France flights to the US (except Detroit and Cincinnati) will be concentrated at Paris Charles de Gaulle's Terminal 2E from today. Flights that were handled at 2E, mainly to Africa, will be transferred elsewhere in T2. AF operates 22 daily flights to 13 US cities. Aug 30, 2006
Air France-KLM doubles first-quarter profit as rumors of Alitalia merger persist. Air France-KLM Group yesterday raised its full-year forecast and said it expects to "generate a significant increase in operating income compared to last year" as it reported a net profit of [euro]244 million ($313 million) for its fiscal first quarter ended June 30, more than double the [euro]112 million earned in the year-ago quarter. Sep 1, 2006
Air France-KLM operating income rose 84.3% to [euro]411 million from [euro]223 million on an 11.9% increase in revenues to [euro]5.8 billion. Expenses climbed 11.8% to [euro]3.24 billion, driven by a 24.8% jump in fuel costs to [euro]1.01 billion. Sep 1, 2006
Air France-KLM activity was "dynamic" in both the passenger and cargo segments, AF-KLM noted, and was accompanied by improvements in unit performance. Yield rose 4.5% to 8.76 euro cents as passenger revenues grew 12.1% to [euro]4.61 billion and traffic lifted 7.7%. Unit revenues increased 7.2% to 7.14 euro cents and CASK rose just 2.9% to 6.47 euro cents. It fell 0.9% on a constant currency and fuel price basis. Capacity was up 5% and load factor gained 2 points to 81.5%. Sep 1, 2006
Air France-KLM turnover from the cargo business rose 10.5% to [euro]729 million and operating income more than doubled year-over-year to [euro]28 million from [euro]11 million. Net debt dropped to [euro]3.72 billion from [euro]5.5 billion on June 30, 2005. Sep 1, 2006
Air France-KLM yesterday once again denied mounting rumors of a pending tie-up with financially struggling Alitalia. "There are clear conditions set for a merger with Alitalia, and they are not fulfilled," AF-KLM Deputy CEO Pierre-Henri Gourgeon told analysts during a teleconference. "Alitalia should be privatized, and its recovery plan should demonstrate with real figures that recovery is on track." Gourgeon also brushed aside recent reports in the French and Italian press of a secret deal between the French and Italian governments that would exchange French support for the merger with Alitalia for renunciation by Italy's Enel energy company of any intention to bid for France's SUEZ. The French government holds 18% of AF-KLM. The group and Alitalia hold small cross-shareholdings of about 3%. Sep 1, 2006