By Joanna Plucinska
London (Reuters) – Air France -KLM reported on Wednesday of results in the first quarter of the expectations in the first quarter on Wednesday, the group having recorded an increase of 7.7% of its turnover, carried by all of its activities, despite the concerns linked to the potential impact of customs duties that the President, Donald Trump, threatens to impose.
European airlines monitor the possible repercussions of economic uncertainty linked to customs duties. Some of them, like Lufthansa, said they had not yet observed any notorious effect on demand or their income.
Air France-KLM announced at the beginning of the month that it could consider, if necessary, lower the price of its economy class tickets on transatlantic flights.
“The context, increasingly uncertain, could generate new opposite winds. Nevertheless, we are convinced that Air France-KLM is well positioned to adapt and continue to perform thanks to its diversified network and its product and service offer,” said Benjamin Smith, Managing Director of the Franco-Dutch group, in a press release.
The airline said it benefited from sustained demand and plan to reduce the risks linked to customs duties, in particular by diversifying its lines.
The group reported an operating loss of 328 million euros in the first quarter, less important than expected by analysts, who were tabling on a loss of 370 million euros.
(Joanna Plucinska; Camille Raynaud; edited by Augustin Turpin)
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