In the third quarter 2019, the Air France-KLM Group posted an operating result of €900 million, down by €165 million compared to last year, impacted by trading environment and fuel bill increase. Net income amounted to €366 million in the third quarter 2019, a decrease of €420 million compared to last year, including non-operating cost impact related to Airbus A380 phase-out of €100 million and effects on currency hedge portfolio related to a stronger US dollar and Japanese Yen.
The fuel bill including hedging amounted to €1,512 million for the third quarter 2019, up €135 million. This increase is mainly explained by a hedging loss of €50 million in this quarter compared to a hedging gain of €100 million last year, and a negative currency effect on the fuel bill of €48 million due to a stronger dollar. Currencies had a positive €92 million impact on revenues and a negative €20 million effect on costs (ex-fuel) including currency hedging.
