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

Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 4:03 am

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

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink. Information was rephrased and not copied and pasted
Anyone can fly, only the best Soar.
 
SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

RE: Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 4:04 am

Currency conversion from €uropean €uros to US Dollars courtesy of the Singaporeair.com Currency Converter
Anyone can fly, only the best Soar.
 
fa4af
Posts: 88
Joined: Mon Jan 08, 2001 11:42 pm

RE: Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 5:56 am

amazing figures, particularly because AF is now ahead of the big three Europeans !
 
SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

RE: Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 7:05 am

Yes they are. I also wonder if this is a sign that CDG is beginning to catch up with LHR as the number 1 €uropean hub.
Anyone can fly, only the best Soar.
 
cba
Posts: 4228
Joined: Sat Jul 15, 2000 2:02 pm

RE: Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 7:57 am

From what I've heard, CDG has already surpassed LHR. CDG has what LHR and FRA don't have, room to expand. They have a huge expansion plan underway that doesn't just stop with Terminal 2E.
 
Gnomon
Posts: 894
Joined: Thu Jun 03, 1999 12:38 pm

RE: Air France Q2 Pre-Tax Profit Up 28% To €113 Mln

Tue Nov 19, 2002 9:26 am

Could the profit be a sign of an impending privatization? Remember that AF delayed privatization a couple of months ago until the advent of a more stable economic environment...

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