Air France has unveiled an 85% increase in operating income before aircraft sales in Q2 to September to €141 000 000 / US$142 283 100. Pre tax profit rose 28% to €113 000 000 / US$114 028 300. However, a €57 000 000 / US$57 518 700 tax charge led to profit after tax falling 35% to €57 000 000 / US$57 518 700.
The pilots strike cost the airline €55 000 000 / US$55 500 500 but a new deal is said to stabilise labour relations for years to come.
North American and €uropean operating conditions improved but domestic French opreations made a slight loss. Air France has also boosted its market share in €urope so that it is the leading carrier in €urope with a 16.9% share - just ahead of Lufthansa and ahead of British Airways.
The collapse of Air Lib is not likely to impact Air France and CEO Jean-Cyril Spinetta said Air Lib has forced French air fares down. Long haul sales rose 4.4% and €uropean sales rose 0.5%. Domestic revenue fell 10% due to low fares and a Paris - Marseille rail link.
More information at the Financial Times website