| Updated:
Cost cuts help Air France KLM
SHARES in Air France KLM soared 18.6 per cent yesterday as the struggling airline’s cost cutting strategy helped to halve its operating losses.
While overall losses widened to €895m (£699m) for the quarter, from €197m a year ago due to a euro restructuring charge, the firm narrowed operating losses to €66m as it squeezed non-fuel costs.
Revenues rose 4.5 per cent to €6.5bn.
Analysts said that despite union unrest over the cost cuts, the efficiencies pledged so far have put the part-state-owned firm on a stronger footing.