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Heathly profits for newly merger carrier
Monday, 20 May, 2005
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Airline group Air France-KLM, the third largest in the world, has racked up a big rise in profits.
In its first annual result as a merged entity, it recorded net profits of £250 million (351 million euros).
The two airlines joined forces a year ago, and continue to fly under their traditional banners. The merger, however, has allowed them to cut costs.
Between them, they are the world’s biggest airline in terms of revenue and rank third behind American Airlines and United Airlines for passenger traffic.
The profit boost comes despite the impact of high oil prices, and the group is predicting similar earnings for 2005-06.
It is planning to raise 800 million euros from the sale of the Amadeus reservations system, BBC News reports.
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