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AirFrance-KLM posts 24.9bn euros revenues in 2014

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The AirFrance-KLM group says its full year 2014 total revenues stood at 24.9bn euros against 25.5bn euros in 2013, down 2.4 percent.

But during the second half of 2014, activity was affected by a 14-day strike by AirFrance pilots, which had an estimated negative impact of 425m euros on the operating result (330m euros in the third quarter and 95m euros in the fourth quarter).

The strike led the Group to cancel 4,249 million available seats kilometre (ASK) and 213 million ATKs resulting in an equivalent cancellation of 4.75bn EASKs (Equivalent Available Seat Kilometre).

Full year 2014 total passenger revenues amounted to 19,570 million euros, down 2.7 percent.

The operating result of the passenger business stood at -83 million euros, versus 174 million euros over the full year 2013.

The Group says it maintained its strict capacity discipline, increasing total passenger capacity by only 1.0 percent excluding the strike impact.

Unit revenue per Available Seat Kilometre (RASK) remained volatile, down by 0.6 percent on a like-for-like basis over the full year.

According to Alexandre de Juniac, chairman, board of directors of the group, “The Transform 2015 strategic plan was completed at the end of full year 2014, having fully delivered on its objective of an in-depth turnaround in Air France-KLM’s competitiveness.

“The Full Year 2014 results speak for themselves: despite the challenging economic and competitive context, once corrected for the impact of the Air France pilot strike, EBITDA is up by more than 50 percent in 3 years, and the operating cash flow has more than tripled to reach nearly 1.5 billion euros.