Air France-KLM back in black, but fines trim profits

AIR FRANCE-KLM returned to profitability with a third quarter net profit of EUR290 million (US$391 million), wiping out last year's same-quarter loss of EUR147 million, reported the Wall Street Journal.

But profits, drawn from revenue of EUR6.6 billion, which increased 18.6 per cent, were hit by a provision to pay EUR127 million in price fixing fines, reported The Associated Press.

"While we have achieved a great deal in a short time, we will remain focused on accomplishing the further measures required to ensure that we generate a value-creating level of profitability," said CEO Pierre-Henri Gourgeon.
(Source:www.schednet.com)