Air France-KLM posted a €235 million fourth-quarter net loss, - Business Travel News

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February 22, 2013 - 01:00 PM ET

Air France-KLM posted a €235 million fourth-quarter net loss, narrower than the €259 million loss reported for the three-month period ending Dec. 31, 2011. The company's 2012 full-year loss widened to €1.2 billion from €809 million in 2011, amid a "sharp increase" in fuel costs, "a slowdown in global growth," a "recession in Europe" and €471 million in charges related to its restructuring. Fourth quarter unit revenue for the airline group's passenger business grew nearly 6 percent year over year while traffic and capacity remained largely flat. "In 2013 we will maintain strict discipline in terms of capacity management, investments and costs," according to Air France-KLM chairman Jean-Cyril Spinetta. "2013 will also see the full implementation of all our projects. It is therefore a crucial year for the success of the Transform plan, and the return to sustainable profitability."

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