KLM Royal Dutch Airlines has posted a Q1 profit of €41 000 000 / US$40 604 160 as revenues dropped 2% to €1 690 000 000 / US$1 681 888 000.

Passenger yields rose 6% with €uropean, African and Indian routes being strongest in the network. A slight increase in North Atlantic yields were also seen despite a fare war.

Capacity was cut 7% but traffic only dropped 4%. Operating expenses fell 3%, blamed by an oil price fall and wage cuts.

KLM however was less certain of a FY profit saying, "uncertainty about the timing of the economic recovery and fuel price levels made it difficult to predict whether a positive net income will be achievable."

Net profits were €11 000 000 / US$10 947 200.

More information at the Financial Times website

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