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KLM Posts Q2 Profit Of US$83 Million  
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13742 posts, RR: 19
Posted (11 years 11 months 2 days 21 hours ago) and read 2609 times:

KLM has posted a profit in Q2 at the high end of analyst expectations - US$83 953 200 / €86 000 000. Operating profit was up 70% at €141 000 000 / US$137 644 200.

Load factor rose 3.4% to 80.2%. Traffic rose 2% but capacity was cut by 2%.

Cargo revenue rose 3% to €245 000 000 / US$239 169 000.

Fuel costs were 18% below the year before.

KLM said it would continue to focus on costs in operating conditions made difficult by global economic and geo-political issues.

More information at the Financial Times website

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink


Anyone can fly, only the best Soar.
5 replies: All unread, jump to last
 
User currently offlineCapt.Picard From , joined Dec 1969, posts, RR:
Reply 1, posted (11 years 11 months 2 days 21 hours ago) and read 2589 times:

CNN is also providing the news:
http://europe.cnn.com/2002/BUSINESS/10/24/klm.reut/index.html (obtained through A.Net News section).

I'm very happy for KLM, and long may they prosper. It's about time we had some good news here in Europe, the turbulence has been strong and continuous, and who knows what lies ahead...

Rgds


User currently offlineJwenting From Netherlands, joined Apr 2001, 10213 posts, RR: 18
Reply 2, posted (11 years 11 months 2 days 16 hours ago) and read 2545 times:

Excellent news. Better profit in 2nd quarter despite a 1 day strike that cost about €20 million and threatened to evaporate the profit (first quarter profit was only €23 million).

Still not where it should be, but getting there.



I wish I were flying
User currently offlineArtsyman From United States of America, joined Feb 2001, 4745 posts, RR: 34
Reply 3, posted (11 years 11 months 2 days 15 hours ago) and read 2519 times:

The interesting thing in that article for me was that the fuel prices were 18% less than the year before. I know that the airlines buy futures etc to protect themselves from spikes, but I cannot see how they maintained an 18% reduction in fuel costs in the current climate

Jeremy


User currently offlineLJ From Netherlands, joined Nov 1999, 4429 posts, RR: 0
Reply 4, posted (11 years 11 months 2 days 13 hours ago) and read 2509 times:

Artsyman, fuel costs decreased by 18% not fuel prices. Given that KLm will fly more during the winter schedule, the fuel bill will go up again

User currently offlineArtsyman From United States of America, joined Feb 2001, 4745 posts, RR: 34
Reply 5, posted (11 years 11 months 2 days 13 hours ago) and read 2504 times:

They tend not to put statements into financial reports unless they are directly corrolated. Therefore the statement about fuel should normally be read that it was 18% down on the equivilent year before. If the report was for the quarter, then the fuel usage would be compared to the quarter the year before. There would be no point on saying that fuel costs were down 18% on the 1st quarter of 1847, this would have no relevence to anyone.

Jeremy


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