SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

KLM Posts Q2 Profit Of US$83 Million

Thu Oct 24, 2002 9:23 pm

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.
 
Guest

RE: KLM Posts Q2 Profit Of US$83 Million

Thu Oct 24, 2002 9:35 pm

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
 
jwenting
Posts: 9973
Joined: Mon Apr 23, 2001 10:12 pm

RE: KLM Posts Q2 Profit Of US$83 Million

Fri Oct 25, 2002 1:40 am

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
 
artsyman
Posts: 4516
Joined: Wed Feb 28, 2001 12:35 pm

RE: KLM Posts Q2 Profit Of US$83 Million

Fri Oct 25, 2002 3:28 am

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
 
LJ
Posts: 4340
Joined: Wed Nov 17, 1999 8:28 pm

RE: KLM Posts Q2 Profit Of US$83 Million

Fri Oct 25, 2002 5:09 am

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
 
artsyman
Posts: 4516
Joined: Wed Feb 28, 2001 12:35 pm

RE: KLM Posts Q2 Profit Of US$83 Million

Fri Oct 25, 2002 5:23 am

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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