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Record losses at KLM
Europe’s fourth largest airline Dutch KLM has reported record losses of £296 million.
The figures, for the year to end March, were worse than expected. The airline said that it would be making around 3,000 full time job cuts and the poor results also put the future of its chief executive Leo van Wijk in doubt.
Like the airline industry as a whole, KLM has been hit by the war in Iraq, a sluggish economy and the SARS virus.
“The current industry environment is unprecedented and we believe that the revenue environment has permanently changed,” said Mr van Wijk.
The carrier is due to announce shortly if it will join the SkyTeam alliance led by Air France and Delta or the British Airways and American Airlines’ led Oneworld network.
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