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Air France-KLM profit increases thanks to fuel-cost drop

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Staff Writer | February 16, 2017
Air France-KLM said net profit surged on a sharp drop in fuel costs. Net profit for 2016 was EUR792 million ($839.8 million) compared with EUR118 million a year earlier.
Air France
Air France-KLM   Operating income advanced 34.5%
Operating income advanced 34.5% to EUR1.05 billion from EUR780 million. Without currency headwinds, the operating result would have risen a further EUR558 million.

Oil prices, which started falling sharply in mid-2014, have helped Air France-KLM deliver two years of healthy profits after the carrier spent years in the red.

The airline, Europe's largest group by traffic, said its fuel bill declined EUR1.5 billion last year.

Passenger numbers rose 4% to 93.4 million in 2016, though sales slipped 3.3% to EUR24.84 billion reflecting ticket price pressure across Europe.