Cargo continues to improve in Q3 for Air France KLM

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Cargo at Air France KLM continues its turnaround with revenue increasing by 3.2 per cent in the third quarter, with tonnage remaining stable.

Total cargo revenue was up 3.2 per cent to €493 million ($572 million) though was down 1.1 per cent in the first nine months of 2017 to €1.5 billion.

Tonnage increased 0.1 per cent to 279,000 tonnes in the third quarter and remained at 837,000 tonnes in the first nine months, while load factors improved by 0.5 percentage points in the third quarter to 57.1 per cent and by 0.7 percentage points to 58.8 per cent in the first nine months.

Air France KLM chairman and chief executive officer (CEO), Jean-Marc Janaillac says: “The strong operating performance achieved by the Group in the third quarter reflects a sustained execution on our strategic priorities, as well as a robust business environment translated into solid traffic and unit revenue trends.”

“We continued to move forward notably with the expansion of our network of strategic alliances and the implementation of a new distribution model. At the same time, we relentlessly pursued our efforts to strengthen our financial structure.”

KLM president and CEO, Pieter Elbers adds: “The results for the first nine months are definitely very promising and they confirm that our KLM strategy is working. However, these are intermediate results.”

“KLM will continue on its path towards productivity gains and further structural cost reduction with the purpose to further ramp up its investment levels in the interests of its customers and employees.”

Revenue for the group was up 5.1 per cent to €7.2 billion in the third quarter and 4.1 per cent in the first nine months to €19.5 billion.

The net result for the group was up 1.5 per cent to €552 million in the third quarter and by 63.5 per cent to €703 million in the first nine months.