Pilot strike dents Air France KLM’s Q3

Air France KLM has suffered from a pilot strike
Air France KLM has suffered from a pilot strike

Air France KLM has estimated the 14 days of pilot strike cost the carrier EUR416 million in revenues and EUR330 million on operating result as it released its third quarter figures.

Taking this into account the airline’s revenue for Q3 remained stable at EUR6.7 billion like-for-like, while EBITDA was down EUR21m to EUR682m.

Its operating result was also down EUR18m to EUR247m, while for the first nine months of 2014 this was up EUR267m to EUR40m.

The group has already managed to reduce its debt by EUR76m as of September 2014 compared to December 2013, although still has net debt of more than EUR5bn.

Its Transform 2015 is on track while new plans under Perform 2020 are now underway, although bookings were slowed during the industrial action period.

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