Air France-KLM Reports Steep Drop In Quarterly Revenue

Air France-KLM this week said first-quarter revenues for the period from April to June declined by 20.5 percent to €5.19 billion, compared with the same period last year.

With about 6 percent fewer passengers traveling on nearly 5 percent less capacity compared with the same period last year, Air France-KLM said passenger revenue fell nearly 19 percent this quarter, though in that period the carrier reduced capacity by 4.7 percent.

"We maintain our assumption of a more limited deterioration in the second quarter and stability in the last two quarters, with even a slight improvement at the end of the year," the carrier said in its forecast on Thursday. Air France-KLM said it would release full first-quarter results on July 30.