Air France posts 736 mln euros profit in Q1

PARIS, July 27 (Xinhua) -- Paris-based Europe's leading airline Air France-KLM announced Tuesday a net profit of 736 million euros (956 million U.S. dollars) in the first quarter of 2010-11 financial year (April-June), versus a drop of 426 million euros registered in the same period a year before.

"Activity in the First Quarter saw a strong recovery in both passenger and cargo, in spite of the five day closure of European air space following the Icelandic volcano eruption," the Franco- Dutch joint venture said in a statement.

The ash cloud from the Iceland volcano Eyjafjoll had forced the European authorities to close their airspace for five days, causing disruption of air traffic in Europe, as well as general loss to the airlines.

The Tuesday result, covering operation from April to June, is " positive" after taking into account the Madrid-based Amadeus operation, benefiting from a gain of 1.03 billion euros, said the Air France-KLM.

The Spanish travel booking agency Amadeus, which the Air France- KLM founded with other airlines, has started trading in stock market since late April and has boosted income for its shareholder the Air France-KLM, which suffered a loss of 252 million euros without it.

From April to June, Air France-KLM posted a turnover of 5.72 billion euros, representing a growth of 10.7 percent against 5.17 billion euros in 2009-10 financial year.

The operating result improved significantly from a loss of 496 million euros to a loss of 132 million euros, according to the company's figures.

Air France-KLM suffered a net loss of 1.56 billion euros during the year 2009-10, jumping from a decline of 811 million euros in 2008-09, due to the global financial crisis and the crash of an Airbus A330 running by Air France with 228 people on board killed on June 1, 2009.

In this year's first quarter result, the total turnover of the Franco-Dutch airline is down by 15 percent to 20.99 billion euros, compared to 24.69 billion euros in financial year of 2008-09. (1 U. S. dollars = 0.7698 euros)

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