Air France/KLM Group saw third-quarter income tumble due to the effects of a stronger dollar and the cost of phasing out its Airbus A380s.
Net income fell year on year by €420 million to €366 million, due in part to a €100 million write down on the early disposal of 10 A380s from the Air France fleet.
The group’s operating result, at €900 million, fell by €165 million compared with the third-quarter 2018, with revenues up 2% and fuel expenses increasing by €135 million. Passenger numbers rose 2.1% to 29 million, with total numbers for the nine-month period reaching 79.5 million, up 3.4%.
Group chief executive Benjamin Smith said: “Air France-KLM Group’s performance in the third quarter showed resilience amid geopolitical uncertainties and softening macro-economic environment.”
He said long-haul forward bookings were “on average ahead of last year” but that the 2019 fuel bill would increase by €600 million to €5.5 billion.