Air France-KLM has reported losses of the equivalent of R2.6 billion from cargo last year, compared with R697.8 million in 2011. Turnover totalled R35.6bn, down 6.4% at constant exchange rates. At the presentation of the group’s annual financial results, Air France-KLM’s chief financial officer, Philippe Calavia, said the business had suffered “in a context of global economic slowdown, weak world trade – a very important indicator for air cargo activity – and continued overcapacity on major Asian routes”. Traffic, expressed in revenue tonne-km (RTKs) fell 6.3% against capacity down by 3.5%. This produced a 1.9% decline in load factor to 64.5%.
Cargo a big loss-maker for Air France/KLM
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