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KLM reveals £57 million loss
KLM has revealed a £57 million third-quarter loss, following the effects of the US terror attacks.
The company, the first European airline to report for the final three months of last year, reported that the net loss compares with a £100 million net profit last year. Group operating revenue was down 16% to £138.6 million during the quarter.
However, KLM says there are signs of an upturn in the aviation industry. The company said it had seen an improvement in trading conditions in the “latter part” of the third quarter, a trend which had continued into January.
Chief executive Leo Van Wijk added: “It is a credit to the organisation’s resilience and flexibility that it was able to respond to the decline in demand for especially passenger travel after the September 11 events.
“Through a variety of actions, the negative impact on the bottom line was less than initially foreseen, and we were able to achieve a positive free cashflow.”
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