AirFrance-KLM posts improved 3rd quarter results

AirFrance-KLM third quarter 2015 total revenues stood at €7.4bn versus €6.7bn in third quarter 2014, up 10.8%. Corrected for the strike impact, the revenues increased by 4.2% mainly as a result of a strong currency tailwind. Total revenues were down -2.4% like-for-like. In the third quarter 2015, the negative currency impact on costs reached €471m. It was lower than in the second quarter since the US dollar strengthened less against the euro. Due to the relatively higher weight of US dollar revenues in the third quarter and to the appreciation of other currencies, the currency impact on revenues was stronger than on costs, reaching €488m. In consequence, for the first time since the first quarter of 2013, the net impact of currencies on the operating result was positive. It amounted to €17m. Total operating costs were 1.1% higher year-on-year and down 7.0% on a like-for-like basis. Ex-fuel, they increased by 2.7% and by 0.5% on a like-for-like basis. EBITDAR amounted to €1,605m, a reported increase of €707m. Like-for-like, EBITDAR increased by €314m, driven by a good summer peak trading.