Europe

Air France-KLM's operating loss widens during Q1 2019

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Air France-KLM's operating loss widens during Q1 2019

Air France-KLM's operating loss widened to €303 million in the first quarter of 2019, from €118 million experienced in the first three months last year.

The group also posted a 1.9% drop in unit revenue for the quarter, which the company has blamed the drop on higher fuel costs and price competition.

Air France-KLM said its fuel bill grew by €140 million to €1.2 billion in the quarter.

The group did however post a revenue rise of 3.1% to almost €6 billion.

Air France-KLM chief executive Ben Smith said: “The first quarter has been challenging for the European airline industry including the Air France-KLM Group... Substantial industry capacity growth in the off-peak business period led to unit revenue pressure.”