Manila Bulletin
May 7, 2012
Air France-KLM said Friday it suffered a first quarter net loss of 368 million euros ($485 million) as higher fuel prices continued to outpace increased revenues.
Sales in the three months to March rose 6.0 percent to 5.6 billion euros, it said, as passenger traffic proved satisfactory while cargo weakened due to the global economic slowdown. Revenue gains were not enough to offset sharply higher fuel costs, which jumped 17.9 percent to 1.68 billion euros in the period, Air France-KLM said.
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