THE HAGUE, July 28 (Xinhua) -- Air France-KLM on Friday announced the strengthening of its network of alliances, an increase of profit and a rise in passenger numbers in the first half 2017.
Operating profits rose to 353 million euros (413 million U.S. dollars) in the first half of 2017, an increase of 135 million compared to H1 of 2016, driven by a solid traffic and unit revenue performance in the passenger section. The net result in H1 2017 was 151 million euros, an increase of 265 million compared to the net loss in H1 of 2016.
Air France-KLM carried 47.145 million passengers in the first half of 2017, an increase of 6.5 percent compared to the same period last year. This improvement was driven mainly by a strong recovery in Asia and Latin America.
Total revenue rose to 10.790 billion euros in the first half of 2017, an increase of 3.7 percent compared to H1 of 2016.
"In a context of solid traffic growth and enhanced unit revenue trend, Air France-KLM delivered improved operating income," Air France-KLM CEO Jean-Marc Janaillac said in a press release.
On Thursday, Air France-KLM announced new alliances by the creation of a single global joint-venture with Delta Air Lines and British Virgin Atlantic and secondly, the strengthening of its partnership with China Eastern Airlines.
Air France-KLM will acquire Virgin Group's 31 percent stake in Virgin Atlantic for 246 million euros, while Delta and China Eastern will each acquire a 10 percent stake in Air France-KLM by subscribing new shares through capital increases totaling 751 million euros.
"These are important milestones showing that Air France-KLM is on the right path," said Janaillac.
