Air France-KLM cut its capacity outlook for the year after net profit dropped in the second quarter, hit by an increase in fuel prices. The Franco-Dutch carrier group on Thursday reported net profit of €190 million ($217.9 million) for the second quarter, compared with €649 million in the same period a year earlier.
The group's adjusted operating profit fell to €484 million from €735 million, but beat analysts' estimate of €340 million, according to a company-compiled consensus. Revenue grew 9.9% to €9.28 billion as group passengers rose 3.9% on year to 28.3 million.
The carrier said pricing and cost discipline helped to largely offset the sharp increase in fuel prices.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing