Air France/KLM reported that total revenues for the first half 2012 amounted to €12.14bn (+5.2% of which a positive currency effect of 1.9%). Operating costs rose 2.7% ex-fuel and by 5.9% including fuel. The main change came from the fuel bill, up €469m. Employee costs of €3.88bn were up 3.9%, including the additional pension charge of €45m at KLM due to the changes in actuarial assumptions at 31 December 2011. The operating result stood at €-663m (€-548m at 30th June 2011), and the adjusted operating result at €-505m. The net interest cost declined slightly to €170m versus €178m a year earlier. On the other hand, other financial costs and income amounted to €-178m, of which €-152m relating to the change in fair value of hedging instruments, compared with €+38m for the year-earlier period. Taking account of these factors, as well as restructuring provision booked in the second quarter, net income, group share was €-1.26bn (€-564m at 30th June 2011).
The maintenance business realised third-party revenues of €265m in the second quarter of 2012 (€262m for the same period in 2011). The operating result stood at €40m (€23m at 30th June 2011). For the first half, revenues amounted to €523m against to €495m year earlier after a positive currency effect of 6%. The operating result for the first half was €56m (€49m at 30th June 2011). The engines and components activities continued to perform well.