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Air France-KLM, the largest in Europe airline, in the first quarter recorded a net loss increase of 19% compared with the same quarter last year to 320 million euros. At the same time, the operating loss amounted to 303 million euros, having increased from 269 million euros a year earlier and significantly exceeded the loss predicted by economists to 251 million euros. Quarterly revenue largely coincided with market forecasts. Its figure was 5.99 billion euros, rising over the year by 3.1%. The revenue per unit of air transportation decreased by 1.9%. EBITDA amounted to 424 million euros, a decrease of 32%. The pre-tax loss was recorded at 450 million euros, up from 257 million euros. In the past quarter, the company increased the number of available passenger seats by 4.8% and the total number of transported passengers increased by only 3%, amounting to 22.67 million people. This reduced the workload of flights to 86.3%.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
On Thursday, the international market had seen a plummet in the value of Asian shares and U.S. stock futures. It is seen to be caused by worries of a falling-out between the United States and China as well as the hit that global economies ...
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