Air France-KLM post full year 2015 profit of €118m

Air France-KLM posted a profit of €118m for the full year 2015, compared to a loss of €225m for the previous year. Turnover was €26.1bn, up 4.6% compared to €24.9bn in 2014. Fourth quarter 2015 results were affected by the November terrorist attacks in Paris, which were estimated to have cost Air France-KLM €120m, as customers stayed away from the French capital in the aftermath of the attack. Operating costs rose by 0.8% year-on-year, with the rise ex-fuel reaching 3.5%. Fuel costs in 2015 accounted for €6.2bn, down 6.7%. The company expects fuel hedging levels will drop from 63% to 54% over the course of 2016.