Air China Limited Interim Results. August Under IFRS

Size: px
Start display at page:

Download "Air China Limited Interim Results. August Under IFRS"

Transcription

1 Air China Limited 21 Interim Results Under IFRS August 21 1

2 Agenda 21 Interim Results Overview Business Overview Financial Overview Outlook 2 2 2

3 21 Interim Results 3

4 21 Interim Results Overview 4 4 4

5 Highlights Key Financial Metrics 1H21 YoY Change Turnover (RMB million) 34, % Operating expenses (RMB million) 3, % Profit from operations (RMB million) 4, % Profit attributable to equity holders (RMB million) 4, % EPS (RMB) % Key Operational Metrics * 1H21 YoY Change ASK (million) 59, % RPK (million) 47, % ATK (million) 9, % RTK (million) 6, % Passenger load factor (%) pts ATK load factor (%) pts *Note: including Shenzhen Airlines operational figures between April 2 to June

6 Business Overview 6 6 6

7 Passenger Services - Air China Total 1H21 YoY Change Domestic 1H21 YoY Change Traffic revenue (RMB million) 25, % ASK (million) 52, % RPK (million) 41, % Load factor (%) pts Yield (RMB/RPK) % International 1H 21 Traffic revenue (RMB million) YoY Change 8, % ASK (million) 18, % RPK (million) 15, % Load factor (%) pts Yield (RMB/RPK) % Traffic revenue (RMB million) 15, % ASK (million) 31, % RPK (million) 24, % Load factor (%) pts Yield (RMB/RPK) % Regional 1H 21 (HK, Macau and Taiwan) Traffic revenue (RMB million) YoY Change 1, % ASK (million) 1, % RPK (million) 1, % Load factor (%) pts Yield (RMB/RPK) % 7 7

8 Passenger Services - Air China Rapid Traffic Growth on International Routes 8 Million 16.2% 6 4 1H 28 1H 29 1H % 42.3% 21vs % International routes experienced significant year-over-year growth in passenger traffic in all areas in the first half of 21 2 Europe North America Japan and Korea Southeast Asia and other areas Million 1.1% 29Q4 21Q1 21Q2 14.6% 12.9% Q2vsQ1-19.1% On a quarter-over-quarter basis, North America, Japan and Korea, as well as European routes maintained solid growth 1 E u ro p e N o rth A m e rica Japan and Korea Southeast Asia and other areas 8 8 8

9 Optimized Capacity Deployment to Further Improve Efficiency 5% 4% 3% 2% 1% % Passenger Capacity and Traffic Changes (1H21 vs 1H29) 1% 13% 25% International Domestic Regional 21% 17% 4% 8pts ASK Change RPK Change Passenger Load Factor Change Total (as of Dec. 31, 29) 262 Introduced in 1H21 2 B737-8(8), A321/32(8), A33(3), Business jet (1 under custody ) Retired in 1H21 6 B767-3(3), B767-3ER(1), B747-2F freighter(1), B757-2(1) Total (as of Jun. 3, 21) pts 8pts Optimization of capacity redeployment: raising domestic capacity by 13% while RPK increased by 17%; increasing international and regional capacity by 1% and 25%, respectively, while RPK up 21% and 4%, respectively Across-the-board improvement in efficiency Timely adjustments of capacity deployment, adding capacity in higher yield markets Continued to retire older aircraft to further optimize fleet structure and to maintain a younger and more efficient fleet 9

10 Improved Hub Operation with Strengthened Hub Position 251, transferred passengers in Beijing, 8% growth YoY Transfer traffic rose by 71% year-over-year in Chengdu hub, domestic to domestic transfers not included Shanghai gateway saw transfer traffic increased by 3%; completion of Terminal 2 transfer in Shanghai Hongqiao, optimizing support of Shanghai hub Increased stake in Shenzhen Airlines, strengthening support to Beijing, Chengdu and Shanghai, resulting in more balanced route network Changes in Capacity Input Strong Growth in Transfer Passenger 6% 4% 2% % 45.8% 22.9% 14.4% 11.3% 8.3% 5.2% Beijing Chengdu Shanghai 1 thousand Grow 8% Down 3% Grow 3% Beijing Chengdu Shanghai ASK YoY Growth AFTK YoY Growth 1 1H29 1H21 1

11 Sustained Improvement in Yield Quality Premium Class Resumed Growth RMB 1 million 6 1% 5 8% 4 6% 3 2 4% 1 2% % Jan Feb Mar Apr May Jun 1H21 1H29 YoY Change International YoY Change International Long-haul Premium Class Revenue Saw Steady Increase RMB 1 million 8 [32%] 7 6 [31%] 5 [37%] 4 [34%] [23%] [25%] Europe America Australia 1H29 1H21 [%] 124% Growth in E- commerce Revenue Frequent Flyer Revenue Rose 83% Corporate Customer Revenue Grew 7% RMB 1 million RMB 1 million RMB 1 million H29 1H21 1H29 1H21 1H29 1H

12 Air China Cargo Leveraging on Market Recovery to Achieve Rapid Growth 1H21 1H29 YoY Change AFTK (million) 3, , % Freighter AFTK (million) 1, % RFTK (million) 2, , % Freighter RFTK (million) 1, % Tonnage carried (tonne) 544, , % Freighter tonnage carried (tonne) 179, , % Load factor (%) 59.2% 49.42% 9.79pts Yield (RMB/RFTK) % Cargo Traffic Maintained Rapid Growth Million Jan Feb Mar Apr May Jun RTK in 21 YoY Growth Domes tic YoY Growth International YoY Growth Regional YoY Growth 8% 7% 6% 5% 4% 3% 2% 1% % Progress of Cargo Joint Venture Submitted application for set-up of the cargo joint venture with Cathay Pacific Airways Expect to commence operation in the fourth quarter First freighter of the joint venture will be introduced this year 12 12

13 Shenzhen Airlines 1H21 YoY Change ASK (million) 14, % RPK (million) 11, % ATK (million) 1, % RTK (million) 1, % Passengers carried (thousand) 8, % Passenger load factor (%) 79.37% 1.74pts ATK load factor (%) 76.41% 1.9pts

14 Shenzhen Airlines (Cont d) Shenzhen Airlines Route Network Maximize Synergies with Expanded Business Co-operation Passenger and cargo marketing Maintenance Information Technology Ground service Sourcing Finance Routes: As of June 3, 21, Shenzhen Airlines operates 162 routes, of which 146 are domestic routes, 11 are international routes and 5 are regional routes Fleet: 94 aircraft Workforce: >8, 14 14

15 Air Macao 1H21 YoY Change ASK (million) 1, % RPK (million) 1, % ATK (million) % RTK (million) % Passengers carried (thousand) % Passenger load factor (%) 7.55% 6.38pts ATK load factor (%) 68.59% 7.8pts Passenger yield (RMB/RPK) % 15 15

16 Financial Review

17 Record High Net Profit Benefited from industry recovery and management efforts (RMB million) 1H21 1H29 YoY Change Turnover 34,781 23,11 5.5% Operating expenses 3,68 2, % Operating expenses ex-fuel cost 2,67 14, % Gain from change in fair value of fuel derivative contracts 721 1, % Profit/(loss) from operations 4,11 2, % Finance costs % Share of profit/(loss) of associates 1, % Profit/(loss) before tax 5,466 2, % Net profit/(loss) 4,71 2, % Profit/(loss) attributable to equity holders 4,613 2, % EPS (RMB) % 17 17

18 Optimizing Capacity Deployment and Creating Higher Passenger and Cargo Services Synergy Revenue breakdown: RMB million Revenue Breakdown Passenger Services YoY Change Cargo Services YoY Change Total YoY Change Domestic 18, % % 19, % (%) pts pts pts International 8, % 3, % 11, % (%) pts pts pts Regional 1, % % 1, % (%) pts pts pts RMB million 3, 25, 13.49% 6% Passenger Revenue Breakdown 5.83% 2, 9.27% 15, 1, 9.73% 86.51% 34.72% 59.28% 35.86% 58.31% 5, 1H29 Passenger 1H21 Cargo 1H29 1H21 Domestic International Regional 18 18

19 Surge in Jet Fuel Prices Challenges Cost Management 1H21 (RMB million) 1H21 1H29 YoY Change Jet fuel 1,613 6, % Gain/loss from change in fair value Take-off, landing and depot charges , % 3,559 2, % Depreciation 4,6 3, % Maintenance 1, % Staff 4,151 2, % Leasing 1,495 1, % Air Catering % Other flight operation expenses 2,654 1, % Others 3,3 1, % TOTAL 3,68 2, % 19 19

20 Higher Jet Fuel Purchase Price with Uncertainties in Trend Fuel Costs and Jet Fuel Surcharge RMB billion H29 1H21 Fuel Costs Jet Fuel Surcharge Changes in Jet Fuel Purchase Prices Average Domestic International RMB / tonne 6, 5, 4, 3, 2, 1, - 1H21 average:5,47 1H29 average :4,34 Jan Feb Mar Apr May Jun RMB / tonne 1H21 average :5,613 6, 4, 1H29 average :4,172 2, - Jan Feb Mar Apr May Jun RMB / tonne 6, 4, 2, - 1H21 average :4,981 1H29 average :3,524 Jan Feb Mar Apr May Jun 1H21 1H29 1H21 1H29 1H21 1H

21 Enhanced Cost Efficiency RMB million Fuel Cost and Non-fuel Cost 62,715 6, 47,485 22,614 45,892 42,416 4, 17,21 14,466 15,716 3,68 2,289 1,613 2, 4,11 26,7 3,284 31,426 6,98 2,67 14, H29 1H21 Operating cost excluding fuel cost Fuel cost RMB Unit Cost H29 1H21 Cost per ATK Cost per ASK Cost as Percentage of Revenue Ex-fuel Unit Cost 3 RMB H29 1H21 Ex-fuel Cost per ATK Ex-fuel Cost per ASK 21 21

22 Margins and Returns 1H21 1H29 YoY change EBITDA (RMB million) 8,16.8 6, % EBITDA margin (%) 23.31% 26.94% -3.63pts EBITDAR (RMB million) 1, , % EBITDAR margin (%) 29.81% 32.89% -3.8pts Operating profit margin (%) 11.79% 12.2% -.41pts Pre-tax profit margin (%) 15.71% 11.54% 4.17pts Net profit margin (%) 13.26% 12.45%.81pts ROE (%) 17.73% 13.12% 4.61pts

23 Healthy Financial Strength and Capital Structure 3 2 (Times) Net Debt to Equity Ratio % 62.4 Total Debt to Asset Ratio H H EBITDA Interest Cover Ratio (Times) H21 (RMB million) 4, Net Asset (excludes minority interest) 31,736 31,57 3, 28,11 23,916 19,943 2, 1, H

24 Outlook 24

25 21 Opportunities and Challenges Opportunities Sustained recovery of global economy and economic growth in China bolstering demand in aviation industry Co-operation with Shenzhen Airlines to strengthen hub development and maximize synergies Cargo market is expected to maintain strong growth Significant growth opportunities deriving from Shanghai World Expo and Guangzhou Asian Games Challenges Risk of double dip recession in global economy still exists Industry capacity growth intensifies competition High-speed rail will trigger changes in competitive landscape of transportation Uncertainties from fluctuations in oil prices, exchange rates and interest rates Traffic and timeslot limits at main airports restrict aircraft utilization and operational quality Strategic Priorities Improve operational efficiency to strengthen core competitiveness Enhance sales and marketing initiatives Continue to improve cost management On-going efforts to improve service and product delivery Enhance overall strategic management to solidify foundation for further development

26 Appendix Other Financial and Operational Data 26

27 1 Fleet Air China 1H21 Delivery Sub-total Owned Finance Lease Operating Lease Average Age A A32/A * A A B * B B B B B787 TU B747F (Not including passenger aircraft converting to freighter) Business jet TOTAL *Note: wet lease aircraft is not included 27

28 2 Fleet Shenzhen Airlines 1H21 Delivery Sub-total Owned Finance Lease Operating Lease Average Age A A B TOTAL

29 3 Balance Sheet (Condensed) (RMB million) As of Jun 3, 21 As of Dec 31, 29 YoY Change Non-current assets 95,215 75, % Aircraft 82,419 65, % Property 4,883 3, % Current assets 14,867 8, % Cash & cash equivalents 5,674 2, % Total assets 143,92 17, % Current liabilities 51,623 37, % Non-current liabilities 63,674 46, % Total liabilities 115,298 83, % Shareholders equity 27,794 23, %

30 4 Cash Flow Statement (Condensed) (RMB million) 1H21 1H29 YoY Change Net cash flow from operating activities Net cash flow from investing activities Net cash flow from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Effect of exchange rate changes on cash and cash equivalents 6,99 1, % -5,41-1, % 716 1, % 2, % 2,676 2, % % Cash and cash equivalents 5,213 3, % 3 3 3

31 5 Borrowings and Obligations RMB million (as of Jun 3 21) Sub-total RMB denominated USD denominated HKD denominated EUR denominated Bank loans and notes Finance lease obligation 57,435 7,29 43,97 6, , ,53 Bond 9, 9, Total 85,813 16,355 63,23 6, Weight (%)

32 Investor Relations - Beijing Rao Xinyu Tel: Fax: raoxinyu@airchina.com Wang Kai Tel: Fax: kai@airchina.com Website: 32

Air China Limited Annual Results. March Under IFRS

Air China Limited Annual Results. March Under IFRS Air China Limited 21 Annual Results Under IFRS March 211 Agenda Part 1 Highlights Part 2 Business Overview Part 3 Financial Overview Part 4 Outlook 2 Part 1 Highlights Steady Economic Growth; Asia Pacific

More information

Air China Limited 2014 Annual Results Under IFRS

Air China Limited 2014 Annual Results Under IFRS Air China Limited 2014 Annual Results Under IFRS March 2015 Agenda Part 1 Results Highlights Part 2 Business Overview Part 3 Financial Overview Part 4 Outlook Part 1 Results Highlights Gradual Global Economic

More information

Air China Limited 2015 First Quarter Results

Air China Limited 2015 First Quarter Results Air China Limited 2015 First Quarter Results April 2015 Under PRC GAAP, unaudited Agenda Part 1 Part 2 Part 3 Results Highlights Business Performance Financial Review Part 1 Results Highlights Results

More information

Part 1 Performance Highlights. Part 2 Business Overview. Part 3 Financial Review

Part 1 Performance Highlights. Part 2 Business Overview. Part 3 Financial Review August 216 1 Part 1 Performance Highlights Part 2 Business Overview Part 3 Financial Review Part 4 Outlook 2 Under IFRS 3 Part 1 Performance Highlights Performance Highlights - Key Operational Metrics

More information

Air China Limited Announces 2010 Interim Results

Air China Limited Announces 2010 Interim Results Air China Limited Announces 2010 Interim Results Record High First Half Results Leveraging New Opportunities to Drive Growth Hong Kong August 25, 2010 Air China Limited ( Air China or the Company, together

More information

Part 1 Performance Highlights. Part 2 Business Overview

Part 1 Performance Highlights. Part 2 Business Overview August 2017 1 Part 1 Performance Highlights Part 2 Business Overview Part 3 Financial Review Part 4 Outlook 2 Under IFRS 3 Part 1 Performance Highlights Performance Highlights - Key Operational Metrics

More information

Air China Limited Announces 2010 Annual Results

Air China Limited Announces 2010 Annual Results Air China Limited Announces 2010 Annual Results Profit reaches record high on strong economic growth Hong Kong March 29, 2011 Air China Limited ( Air China or the Company, together with its subsidiaries,

More information

Air China Limited Announces 2009 Annual Results

Air China Limited Announces 2009 Annual Results Air China Limited Announces 2009 Annual Results Record Operating Profit in Complex Market Environment Strengthened Position to Capture Growth Opportunities Hong Kong April 22, 2010 Air China Limited (

More information

Finnair Group Interim Report 1 January 31 March 2008

Finnair Group Interim Report 1 January 31 March 2008 Finnair Group Interim Report 1 January 31 March 2008 1 29/04/2008 Presentation name / Author Outlook for the industry less positive Growth of demand declining due to uncertainty of global economy Growth

More information

Cathay Pacific Airways 2012 Analyst Briefing 28 June 2012

Cathay Pacific Airways 2012 Analyst Briefing 28 June 2012 Cathay Pacific Airways 2012 Analyst Briefing 28 June 2012 1 Airline Strategy Grow our international network, expand frequencies and further develop Hong Kong as one of the world s leading aviation hubs

More information

Cathay Pacific Airways Interim Results for the six months ended 30 June 2012

Cathay Pacific Airways Interim Results for the six months ended 30 June 2012 Cathay Pacific Airways Interim Results for the six months ended 30 June 2012 8 August 2012 1 Interim Result 1H2012 1H2011 Change Group attributable (loss) / profit HK$ million (935) 2,808-133.3% Group

More information

Finnair Group Interim Report 1 January 30 June 2008

Finnair Group Interim Report 1 January 30 June 2008 Finnair Group Interim Report 1 January 30 June 2008 1 08/08/2008 Presentation name / Author Airline industry at a historical turning point Fuel price has a stranglehold on the business Average ticket prices

More information

The Accounting Case Competition for Secondary Schools and Tertiary Institutes. Tertiary Institutes Group

The Accounting Case Competition for Secondary Schools and Tertiary Institutes. Tertiary Institutes Group The Accounting Case Competition for Secondary Schools and Tertiary Institutes 2004 Time allowed 2 hours Answer ALL the questions Marks Section A 50 Section B 20 Section C 15 Section D 15 100 DO NOT OPEN

More information

2015 Annual Results. Under IFRS

2015 Annual Results. Under IFRS 2015 Annual Results Under IFRS Disclaimer Financial data included in this presentation is prepared under IFRS. Unless otherwise specified, the unit for cost and income is RMB million. Regions or Regional

More information

Cathay Pacific Airways

Cathay Pacific Airways Cathay Pacific Airways Interim Results for the six months ended 30 th June 2014 13th August 2014 1 Interim Results 1H2014 1H2013 Change Profit attributable to the shareholders of Cathay Pacific HK$ million

More information

Finnair Group Annual Report 1 January 31 December 2006

Finnair Group Annual Report 1 January 31 December 2006 Finnair Group Annual Report 1 January 31 December 2006 2006: A year for restructuring Scheduled Passenger Traffic transforming to meet Asian traffic demands Labour negotiations to cut 670 jobs 80 million

More information

Finnair Group Interim Report 1 January 30 September 2008

Finnair Group Interim Report 1 January 30 September 2008 Finnair Group Interim Report 1 January 30 September 2008 1 31/10/2008 Presentation name / Author Airline industry at a historical turning point Expensive fuel price in the beginning of 2008 has dramatical

More information

Cathay Pacific Airways 2011 Analyst Briefing 23 June 2011

Cathay Pacific Airways 2011 Analyst Briefing 23 June 2011 Cathay Pacific Airways 2011 Analyst Briefing 23 June 2011 1 Airline Strategy Grow our international network, expand frequencies and further develop Hong Kong as one of the world s leading aviation hubs

More information

2012 Result. Mika Vehviläinen CEO

2012 Result. Mika Vehviläinen CEO 2012 Result Mika Vehviläinen CEO 1 Agenda Market environment in Q4 Business performance and strategy execution Outlook Financials 2 Market Environment According to IATA, Global air travel continues to

More information

Cathay Pacific Airways

Cathay Pacific Airways Cathay Pacific Airways Annual Results for the year ended 31 st December 2011 14 March 2012 1 Annual Result 2011 2010 Change Group attributable profit HK$5,501m HK$14,048m -60.8% Group Turnover HK$98,406m

More information

Cathay Pacific Airways 2013 Analyst Briefing 25 June Cathay Pacific Airways Analyst Briefing 27 November 2013

Cathay Pacific Airways 2013 Analyst Briefing 25 June Cathay Pacific Airways Analyst Briefing 27 November 2013 Cathay Pacific Airways 2013 Analyst Briefing 25 June 2013 Cathay Pacific Airways Analyst Briefing 27 November 2013 2013 Operating Performance to date: Passenger yield and load factor growth on lower ASKs.

More information

PARENT AIRLINE OPERATIONS LIFT GROUP PROFIT

PARENT AIRLINE OPERATIONS LIFT GROUP PROFIT PARENT AIRLINE OPERATIONS LIFT GROUP PROFIT HIGHLIGHTS OF THE GROUP S PERFORMANCE Financial Year 2006-07 4th Quarter 2006-07 Apr 2006 Mar 2007 Year-on-Year % Change Jan-Mar 2007 Year-on-Year % Change Operating

More information

Cathay Pacific Airways 2010 Annual Results 9 March 2011

Cathay Pacific Airways 2010 Annual Results 9 March 2011 Cathay Pacific Airways 2010 Annual Results 9 March 2011 1 Annual Result 2010 2009 Change Group Profit/(Loss) HK$14,048m HK$4,694m +199.3% Group Turnover HK$89,524m HK$66,978m +33.7% Profit Margin 15.7%

More information

Finnair Q Result

Finnair Q Result Finnair Q2 2015 Result 14 August 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Market environment shows signs of improvement There were signs of a recovery in the demand for consumer and business

More information

Finnair Q Result

Finnair Q Result Finnair Q1 2015 Result 7 May 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Turbulent market environment The weakness of the Finnish economy continued to be reflected in the demand in the first

More information

Information meeting. 1 st September 2011

Information meeting. 1 st September 2011 Information meeting 1 st September 2011 Full Year 2010-11 key data April 2010-March 2011 Revenues in billions Operating result in millions 77% Passenger 18.10 +11.3% -44 +874 13% Cargo 3.16 +29.5% +69

More information

Korean Air Lines Q Results & 2011 Business Plan. 27 Feb 2011

Korean Air Lines Q Results & 2011 Business Plan. 27 Feb 2011 Korean Air Lines 2010 4Q Results & 2011 Business Plan 27 Feb 2011 Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air

More information

Cathay Pacific Airways Interim Results 04 August Cathay Pacific Airways Interim Results 6 August 2008

Cathay Pacific Airways Interim Results 04 August Cathay Pacific Airways Interim Results 6 August 2008 Cathay Pacific Airways 2010 Interim Results 04 August 2010 Cathay Pacific Airways 2008 Interim Results 6 August 2008 Interim Result 1H 2010 1H 2009 Group Profit/(Loss) HK$6,840m HK$812m Group Turnover

More information

Information meeting. 12 September 2011

Information meeting. 12 September 2011 Information meeting 12 September 2011 Full Year 2010-11 key data April 2010-March 2011 Revenues in billions Operating result in millions 77% Passenger 18.10 +11.3% -44 +874 13% Cargo 3.16 +29.5% +69 +505

More information

Analysts Briefing. 24 June Cathay Pacific Airways Limited

Analysts Briefing. 24 June Cathay Pacific Airways Limited Analysts Briefing 24 June 2016 Cathay Pacific Airways Limited Operating performance - overview Challenging business environment. Load factor lower than expectations on weakening passenger demand. Strong

More information

THIRD QUARTER OPERATING PROFIT UP 51% TO $675 MILLION

THIRD QUARTER OPERATING PROFIT UP 51% TO $675 MILLION THIRD QUARTER OPERATING PROFIT UP 51% TO $675 MILLION GROUP FINANCIAL PERFORMANCE Third Quarter 2007-08 The Group made an operating profit of $675 million in the third quarter of financial year 2007-08,

More information

Finnair Q Result

Finnair Q Result 17 August 2016 CEO Pekka Vauramo CFO Pekka Vähähyyppä Finnair Q2 2016 Result 1 Highlights of the second quarter The seventh consecutive quarter of profit improvement Fukuoka & Guangzhou route openings

More information

Cathay Pacific Airways Annual Results 10 March Cathay Pacific Airways Interim Results 6 August 2008

Cathay Pacific Airways Annual Results 10 March Cathay Pacific Airways Interim Results 6 August 2008 Cathay Pacific Airways 2009 Annual Results 10 March 2010 Cathay Pacific Airways 2008 Interim Results 6 August 2008 Annual Result 2009 2008 (restated) Group Profit/(Loss) HK$4,694m (HK$8,696m) Group Turnover

More information

Analysts Briefing. 18 March Cathay Pacific Airways Limited

Analysts Briefing. 18 March Cathay Pacific Airways Limited Analysts Briefing 18 March 2015 Cathay Pacific Airways Limited Annual Results 2014 2013 Change Group attributable profit HK$m 3,150 2,620 +20.2% Group turnover HK$m 105,991 100,484 +5.5% Profit margin

More information

Korean Air Q Financial Results. Jul 28, 2011

Korean Air Q Financial Results. Jul 28, 2011 Korean Air 2011 2Q Financial Results Jul 28, 2011 Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd.

More information

Finnair 2015 kolmannen vuosineljänneksen tulos

Finnair 2015 kolmannen vuosineljänneksen tulos Finnair 215 kolmannen vuosineljänneksen tulos Q3 Result 215 3 October 215 3.1.215 Toimitusjohtaja Pekka Vauramo Talousjohtaja Pekka Vähähyyppä 1 Highlights of the quarter Excellent Q3 result: Record result

More information

PRESS RELEASE Financial Results. Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue

PRESS RELEASE Financial Results. Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue PRESS RELEASE 2016 Financial Results Rising passenger traffic at 12.5m Exceeding 1bn in consolidated revenue Kifissia, 23 March 2017 AEGEAN reports full year 2016 results with consolidated revenue at 1,020m,

More information

KOREAN AIR 4Q17 FINANCIAL RESULTS

KOREAN AIR 4Q17 FINANCIAL RESULTS KOREAN AIR 4Q17 FINANCIAL RESULTS 1 Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd. and is subject

More information

Cebu Air, Inc. Annual Stockholders Briefing. 24 June cebupacificair.com

Cebu Air, Inc. Annual Stockholders Briefing. 24 June cebupacificair.com Cebu Air, Inc. Annual Stockholders Briefing 24 June 2015 cebupacificair.com Business Updates Passengers (M) Operating Statistics 2014: Passenger traffic grew 17.5% to 16.9M. Seat capacity grew 14.8% to

More information

Financial Position (consolidated)

Financial Position (consolidated) May 14 th, 2015 Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd. and is subject to updating, revision,

More information

First Quarter Results August 31 st, 2006

First Quarter Results August 31 st, 2006 First Quarter Results 2006-07 August 31 st, 2006 Key features of the First Quarter Market context Sustained global economic growth, and a recovery in Europe Average jet fuel price of 691 $/t, up 25% year-on-year

More information

Cathay Pacific Airways 2011 Interim Results 10 August 2011

Cathay Pacific Airways 2011 Interim Results 10 August 2011 Cathay Pacific Airways 2011 Interim Results 10 August 2011 1 Interim Result 1H 2011 1H 2010 Group profit HK$2,808m HK$6,840m Group turnover HK$46,791 HK$41,337m Profit margin 6.0% 16.5% Return on capital

More information

FIRST QUARTER OPERATING PROFIT IMPROVES TO $274 MILLION

FIRST QUARTER OPERATING PROFIT IMPROVES TO $274 MILLION 1 August 2006 Page 1 of 4 No. 03/06 1 August 2006 FIRST QUARTER OPERATING PROFIT IMPROVES TO $274 MILLION HIGHLIGHTS OF THE GROUP S PERFORMANCE 1st Quarter 2006-07 Year-on-Year % Change Operating revenue

More information

Credit Suisse. 19 th Annual AIC 8 th April Cathay Pacific Airways Limited

Credit Suisse. 19 th Annual AIC 8 th April Cathay Pacific Airways Limited Credit Suisse 19 th Annual AIC 8 th April 2016 Cathay Pacific Airways Limited Annual Results - 2015 Group Financial Statistics 2015 2014 % Var Group Revenue HK$m 102,342 105,991-3.4% Group attributable

More information

Analysts Briefing. 27 November Cathay Pacific Airways Limited

Analysts Briefing. 27 November Cathay Pacific Airways Limited Analysts Briefing 27 November 2015 Cathay Pacific Airways Limited Operating performance - overview Passenger load factors are high, driven by strong back-end demand. Passenger front-end yield and load

More information

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Panama City, Panama --- Aug 8, 2018. Copa Holdings, S.A. (NYSE: CPA), today announced financial results

More information

FIRST QUARTER OPERATING PROFIT IMPROVES 69% TO $463 MILLION

FIRST QUARTER OPERATING PROFIT IMPROVES 69% TO $463 MILLION FIRST QUARTER OPERATING PROFIT IMPROVES 69% TO $463 MILLION PARENT AIRLINE OPERATIONS DRIVE GROUP OPERATING PROFIT The Group made an operating profit of $463 million for the first quarter of 2007-08; an

More information

Thank you for participating in the financial results for fiscal 2014.

Thank you for participating in the financial results for fiscal 2014. Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots

More information

Information meeting. Third quarter results. March 2011

Information meeting. Third quarter results. March 2011 Information meeting Third quarter 2010-11 results 1 March 2011 Agenda 2010-11: recovery in activity and return to profitability Current issues Air France-KLM ambitions for the next three years 2 All businesses

More information

Cathay Pacific Airways Analyst Briefing 27 November 2012

Cathay Pacific Airways Analyst Briefing 27 November 2012 Cathay Pacific Airways Analyst Briefing 27 November 2012 1 Trading Statement 2012 A very challenging year High fuel prices Soft premium demand High competition in Economy Class putting pressure on yield

More information

Cathay Pacific Airways Analyst Briefing. 21 November 2014

Cathay Pacific Airways Analyst Briefing. 21 November 2014 Cathay Pacific Airways Analyst Briefing 21 November 2014 Operating Performance Passenger demand remains strong, although growth in North America is significantly short of increase in capacity. Demand for

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017)

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017) JAPAN AIRLINES Co., Ltd. Financial Results Mar/2018(FY2017) July 31, 2017 Today s Topics P.1 P.2 P.3 P.4 P.6 P.15 Overview of Financial Results for (FY2017) 1 st quarter resulted in an increase in both

More information

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012 Fourth Quarter and Full Year 2011 Results Presentation February 1, 2012 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Information meeting. September 2011

Information meeting. September 2011 Information meeting September 2011 Full Year 2010-11 key data April 2010-March 2011 Revenues in billions Operating result in millions 77% Passenger 18.10 +11.3% -44 +874 13% Cargo 3.16 +29.5% +69 +505

More information

PROFIT OF $1.24b ON STRONG REVENUE GAINS BUT FUEL COSTS REMAIN GREATEST CHALLENGE

PROFIT OF $1.24b ON STRONG REVENUE GAINS BUT FUEL COSTS REMAIN GREATEST CHALLENGE PROFIT OF $1.24b ON STRONG REVENUE GAINS BUT FUEL COSTS REMAIN GREATEST CHALLENGE HIGHLIGHTS OF THE GROUP S PERFORMANCE Financial Year 2005-06 4th Quarter 2005-06 Apr 2005 Mar 2006 Year-on-Year % Change

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of $103.8 million and EPS of $2.45 for the Third Quarter of 2017 Excluding special items, adjusted net income came in at $100.8 million, or EPS of $2.38 per share Panama

More information

Cathay Pacific Airways Analyst & Investor Briefing June Cathay Pacific Airways Interim Results 6 August 2008

Cathay Pacific Airways Analyst & Investor Briefing June Cathay Pacific Airways Interim Results 6 August 2008 Cathay Pacific Airways 2010 Analyst & Investor Briefing June 2010 Cathay Pacific Airways 2008 Interim Results 6 August 2008 Airline Strategy Remains largely unchanged Grow our international network, expand

More information

Financial Position (consolidated)

Financial Position (consolidated) 2013. 8. 14. Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd. and is subject to updating, revision,

More information

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015 INVESTOR PRESENTATION Imperial Capital Global Opportunities Conference September 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private

More information

CONSOLIDATED PROFIT AND LOSS ACCOUNT

CONSOLIDATED PROFIT AND LOSS ACCOUNT CONSOLIDATED PROFIT AND LOSS ACCOUNT for the year ended 31st December Turnover Note Passenger services 26,407 18,663 Cargo services 11,395 9,913 Catering and other services 1,263 1,002 Total turnover 1

More information

Analyst Briefing. 12 June Cathay Pacific Airways Limited

Analyst Briefing. 12 June Cathay Pacific Airways Limited Analyst Briefing 12 June 2015 Cathay Pacific Airways Limited Operating Performance The positive operating environment continues into the first half of 2015. Robust passenger demand and healthy cargo demand.

More information

JET AIRWAYS (I) LTD. Presentation on Financial Results Q July 24, 2009

JET AIRWAYS (I) LTD. Presentation on Financial Results Q July 24, 2009 JET AIRWAYS (I) LTD Presentation on Financial Results Q1 2010 July 24, 2009 1 1 1 Agenda Domestic operating environment Jet Airways performance highlights JetLite performance highlights Outlook 2 2 2 Domestic

More information

AEROFLOT ANNOUNCES FY 2017 IFRS FINANCIAL RESULTS

AEROFLOT ANNOUNCES FY 2017 IFRS FINANCIAL RESULTS AEROFLOT ANNOUNCES FY 2017 IFRS FINANCIAL RESULTS Moscow, 1 March 2018 Aeroflot Group ( the Group, Moscow Exchange ticker: AFLT) today publishes its audited financial statements in accordance with International

More information

PRESS RELEASE. First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability

PRESS RELEASE. First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability PRESS RELEASE First Half 2017 Financial Results Higher Load Factors and traffic lead to a significant rebound in second quarter profitability Kifissia, 12 September 2017 AEGEAN announces first half 2017

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2018 Excluding special items, adjusted net profit came in at $44.0 million, or Adjusted EPS of $1.04 Panama City, Panama --- February 13,

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Net Income of US$32.0 Million and EPS of US$0.72 for the Second Quarter of 2012 Excluding special items, adjusted net income came in at $58.6 million, or EPS of $1.32 per share Panama

More information

Information meeting. Full Year results. June 2011

Information meeting. Full Year results. June 2011 Information meeting Full Year 2010-11 results 1 June 2011 Agenda 2010-11: Recovery in activity and return to profitability 2011: Ongoing actions and reinforced strategic advantages 2 2010-11: Strong improvement

More information

Financial Results Q3 FY16

Financial Results Q3 FY16 Financial Results Q3 FY16 6 February 2016 Agenda Key performance highlights Jet Airways performance highlights JetLite performance highlights 2 Key highlights Highest ever quarterly and period profit Jet

More information

1Q13 R sults esentation

1Q13 R sults esentation 1Q13 Results Presentation 14 May 2013 Disclaimer The presentation is dated the day it is given. The delivery of this presentation shall not, under any circumstances, create any implication that there has

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017)

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2018(FY2017) JAPAN AIRLINES Co., Ltd. Financial Results Mar/2018(FY2017) July 31, 2017 Today s Topics P.1 P.2 P.3 P.4~ P.6~ P.15~ Overview of Financial Results for Mar/18 Mar/18 (FY2017) 1 st quarter resulted in an

More information

Cebu Air, Inc. 2Q2014 Results of Operation

Cebu Air, Inc. 2Q2014 Results of Operation Cebu Air, Inc. 2Q2014 Results of Operation 1 Disclaimer This information provided in this presentation is provided only for your reference. Such information has not been independently verified and, as

More information

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 May 9, 2018 PANAMA CITY, May 9, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced financial

More information

FIRST QUARTER 2017 RESULTS. 4 May 2017

FIRST QUARTER 2017 RESULTS. 4 May 2017 FIRST QUARTER 2017 RESULTS 4 May 2017 A resilient start of the year, traffic up 4.2% 20.9 million passengers carried, up 5.2%, traffic (RPK) up 4.2%, capacity (ASK) up 3.3% and load factor up 0.7pts Confirmation

More information

Financial Results 1 st Quarter Mar/2016 (FY2015) 30 July, 2015

Financial Results 1 st Quarter Mar/2016 (FY2015) 30 July, 2015 Financial Results Mar/2016 (FY2015) 30 July, 2015 Today s Topics P.2 P.3 P.15 1 Overview of FY Mar/2016 Financial Results Operating Revenue Operating Profit 320 307.0 +4.9Bn (+1.6%) 312.0 50 +17.6Bn (+94.6%)

More information

THE PARENT AIRLINE FY2010/11 RESULTS

THE PARENT AIRLINE FY2010/11 RESULTS SINGAPORE AIRLINES GROUP ANALYST / MEDIA BRIEFING FY21-11 11 RESULTS 13 MAY 211 THE PARENT AIRLINE FY21/11 RESULTS THE PARENT AIRLINE COMPANY RESULTS FY21/11 4Q/1 $million Better/ (Worse) $million 21/11

More information

STRONG OPERATING RESULTS LIFT NET PROFIT 7.3% TO $932 MILLION

STRONG OPERATING RESULTS LIFT NET PROFIT 7.3% TO $932 MILLION STRONG OPERATING RESULTS LIFT NET PROFIT 7.3% TO $932 MILLION GROUP FINANCIAL PERFORMANCE First Half 2007-08 The Group achieved an operating profit of $982 million for the first half of financial year

More information

Third Quarter Results

Third Quarter Results 1 Third Quarter 2010-11 Results Highlights of the Third Quarter Passenger business affected by significant disruptions Dynamic cargo activity Strong improvement in results Decline in ex-fuel unit costs

More information

Santander 22 nd Annual Latin American Conference. Cancun, January 2018

Santander 22 nd Annual Latin American Conference. Cancun, January 2018 Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Cathay Pacific is committed to building its network and connectivity and so to strengthen Hong Kong s position as a major aviation hub.

Cathay Pacific is committed to building its network and connectivity and so to strengthen Hong Kong s position as a major aviation hub. Connecting Worlds together 26 Swire Pacific Annual Report 2010 Cathay Pacific is committed to building its network and connectivity and so to strengthen Hong Kong s position as a major aviation hub. Swire

More information

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 November 14, 2018 PANAMA CITY, Nov. 14, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced

More information

INVESTOR NEWSLETTER. Full Year 2013 Editions. PT Garuda Indonesia (Persero) Tbk. FY 2012 FY 2013 Change. Summary.

INVESTOR NEWSLETTER. Full Year 2013 Editions. PT Garuda Indonesia (Persero) Tbk. FY 2012 FY 2013 Change. Summary. INVESTOR NEWSLETTER PT Garuda Indonesia (Persero) Tbk. Full Year 2013 Editions FY 2012 FY 2013 Change Financial Summary (USD Mio) OPERATING REVENUES 3,472 3,716 7.02% OPERATING EXPENSES 3,304 3,660 10.75%

More information

JET AIRWAYS (I) LTD. Presentation on Financial Results Q2 FY10

JET AIRWAYS (I) LTD. Presentation on Financial Results Q2 FY10 JET AIRWAYS (I) LTD Presentation on Financial Results Q2 FY10 October 27, 2009 1 1 1 Agenda Domestic operating environment Jet Airways performance highlights JetLite performance highlights Outlook 2 2

More information

Information meeting. Jean-Cyril Spinetta Chairman and CEO

Information meeting. Jean-Cyril Spinetta Chairman and CEO Information meeting Jean-Cyril Spinetta Chairman and CEO Forward-looking statements The information herein contains forward-looking statements about Air France-KLM and its business. These forward-looking

More information

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016

JAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016 JAPAN AIRLINES Co., Ltd. Financial Results Mar/2017(FY2016) July 29, 2016 Today s Topics P.1 P.2 P.13 From the first quarter of this fiscal year, figures for Revenue Passengers Carried, ASK, RPK and Load

More information

Q Finnair s growth continued Pekka Vähähyyppä

Q Finnair s growth continued Pekka Vähähyyppä 2018 Finnair s growth continued 25.10.2018 Pekka Vähähyyppä 1 We continued to develop our services and network New route to Los Angeles in 2019, two daily flights to Hong Kong New digital service for exploring

More information

Cathay Pacific Airways Cathay Pacific Airways 2008 Annual Results Investor Relations Meeting 11 March June 2009

Cathay Pacific Airways Cathay Pacific Airways 2008 Annual Results Investor Relations Meeting 11 March June 2009 Cathay Pacific Airways Cathay Pacific Airways 2008 Annual Results Investor Relations Meeting 11 March 2009 22 June 2009 Airline Strategy Continue to grow our extensive international network, expand frequencies

More information

September 2010 Brian Pearce To represent, lead and serve the airline industry

September 2010 Brian Pearce   To represent, lead and serve the airline industry Cycle turns up but risks and structural challenges remain September 2010 Brian Pearce www.iata.org/economics To represent, lead and serve the airline industry Confidence was still high in July survey Airline

More information

FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING

FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING 8 May 2014 Page 1 of 5 No. 02/14 8 May 2014 FULL YEAR OPERATING PROFIT RISES TO $259 MILLION 25 CENTS SPECIAL DIVIDEND PROPOSED OUTLOOK REMAINS CHALLENGING GROUP FINANCIAL PERFORMANCE Financial Year 2013-14

More information

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations cebupacificair.com Disclaimer The information provided in this presentation is provided only for your reference. Such information has

More information

INVESTOR PRESENTATION. May 2015

INVESTOR PRESENTATION. May 2015 INVESTOR PRESENTATION May 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the

More information

FOURTH QUARTER RESULTS 2017

FOURTH QUARTER RESULTS 2017 FOURTH QUARTER RESULTS 2017 KEY RESULTS In the 4Q17 Interjet total revenues added $5,824.8 million pesos that represented an increase of 10.8% over the revenue generated in the 4Q16. In the 4Q17, operating

More information

Q Fast growth continued, Comparable operating result at record high levels Pekka Vauramo

Q Fast growth continued, Comparable operating result at record high levels Pekka Vauramo 2018 Fast growth continued, Comparable operating result at record high levels 17.7.2018 Pekka Vauramo 2 A good - Comparable operating result increased to new seasonal high Revenue Comparable operating

More information

Financial Results 3 rd Quarter MAR/2016 (FY2015)

Financial Results 3 rd Quarter MAR/2016 (FY2015) Financial Results MAR/2016 (FY2015) January 29 th, 2016 CONTENTS P.1 P.2 P.3 P.4~ Overview of FY MAR/16 Results Operating Revenue Operating Profit 1,030 1,020 1,010 +1.0Bn 1,022.3 1,023.4 (+0.1%) 180 160

More information

Passenger services 7,438 10,550 Cargo services 4,405 4,225 Catering and other services Turnover 1 12,275 15,511

Passenger services 7,438 10,550 Cargo services 4,405 4,225 Catering and other services Turnover 1 12,275 15,511 Cathay Pacific Airways Limited - 2003 Interim Results Consolidated Profit and Loss Account - Unaudited Six months ended 30th June 2003 2002 Note Passenger services 7,438 10,550 Cargo services 4,405 4,225

More information

26 October 2017 Icelandair Group Interim Report NET PROFIT USD 101 MILLION IN THIRD QUARTER

26 October 2017 Icelandair Group Interim Report NET PROFIT USD 101 MILLION IN THIRD QUARTER NET PROFIT USD 101 MILLION IN THIRD QUARTER Total income in Q3 up by 10% between years, to USD 536.0 million Passenger revenue higher than expected EBITDA unchanged year on year, at USD 161.1 million Passenger

More information

2007/08 Full Year Results Investor Briefing

2007/08 Full Year Results Investor Briefing 2007/08 Full Year Results Investor Briefing Highlights of Result Profit before tax up 46% to $1,408 million Up 36% on the reported result Margin improvement $3 billion of Sustainable Future Benefits achieved

More information

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Panama City, Panama --- March 7, 2007. Copa Holdings, S.A. (NYSE: CPA), parent company of Copa

More information

HIGH FUEL PRICES DRIVE HALF YEAR PROFIT DOWN 62% AMIDST CHALLENGING ENVIRONMENT

HIGH FUEL PRICES DRIVE HALF YEAR PROFIT DOWN 62% AMIDST CHALLENGING ENVIRONMENT 3 November 2011 Page 1 of 4 No. 06/11 03 November 2011 HIGH FUEL PRICES DRIVE HALF YEAR PROFIT DOWN 62% AMIDST CHALLENGING ENVIRONMENT GROUP FINANCIAL PERFORMANCE First Half 2011-12 The Group made a net

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2015 Excluding special items, adjusted net income came in at $31.7 million, or EPS of $0.73 per share Panama City, Panama --- February

More information

Third Quarter 2014 Results. 29 October 2014

Third Quarter 2014 Results. 29 October 2014 Third Quarter 2014 Results 29 October 2014 Highlights of the Third Quarter Operating environment Air France-KLM Economic environment remains weak Further currency volatility affecting revenues and results

More information