Lower profits for KLM and Air France due to high fuel prices Now

Air France-KLM aviation suit suffers from high fuel prices and negative exchange rate effects. Both companies achieved more sales, but fewer profits. KLM grew faster than its sister airline Air France in the third quarter

. The turnover of the Dutch company increased by 5.2% compared to the previous quarter, while Air France recorded a growth of 3.5%. 19659003] The decline in earnings of both companies was due mainly to higher fuel costs and negative currency effects.

The parent company Air France-KLM closed the measurement period with a turnover of 7.5 billion euros. This represented 4% more than in the third quarter of 2017. Operating profit was down from 77 million euros to only 1.1 billion euros.

KLM realized operating profit of 573 million euros. That's 15 million euros less than a year ago. At Air France, profits decreased by 66 million euros to 493 million euros. Air France-KLM expects the fuel bill to reach 500 million euros more than last year for the whole of 2018.

"Solid Performance"

The Transavia Traveler welcomed more passengers last summer. They also resulted in a substantial increase in sales. Operating income increased by 5 million euros to reach 178 million euros.

Chief Executive Officer Ben Smith, recently head of the company, explained his performance. He also said that the provisional agreement with Air France personnel guaranteed peace. This weekend, he spoke with the staff about the details.

Previously, the company had been hit by strikes caused by the wage conflict. This has resulted in hundreds of millions of costs. The final bill for the proposed salary increase is well below this amount per quarter.

Smith did not discuss possible changes at the top of the company.