Air France-KLM warns on profit

Air France-KLM warned it would miss its full-year target for operating profit after snow, strikes and security problems conspired to put pressure on its finances. Europe’s largest airline by revenues said yesterday it would make less than the previously targeted operating profit of €300m (£256m) in the year to the end of March, but would remain in the black. The setback, announced with a third-quarter operating profit of €81m, reflects a cocktail of air traffic control strikes, bad weather on both sides of the Atlantic and security problems in key destinations in Africa. Unit revenues have also been damaged by overcapacity as other airlines rush to add seats as markets recover, it said.