Air France-KLM posts 3rd quarter profit slide

Air France-KLM reported that total revenues for the group amounted to €6.79bn in the 3rd quarter of 2011, versus €6.65bn at 30th September 2010, up 2.1%, despite a negative currency impact of 2.8%. The operating result stood at €397m (€576m a year ago). The adjusted operating result stood at €468m, implying a margin of 6.9%. Net interest costs were stable at €95m (€93m at 30th September 2010). Other financial outcome and costs stood at €-268m (€41m at 30th September 2010) including a currency result of €-125m and a decline in the fair value of hedging instruments of €145m. The net result stood at €14m (€290m at 30th September 2010). The net result restated for non-recurring and non-cash derivative items stood at €117m (€366m at 30th September 2010).
The group anticipates a negative operating result for the quarter October-December 2011 as well as for the 12 months through Dec. 31.