Vladimír Urbánek (Kurzy.cz)
World markets  |  October 31, 2012 15:28:41

Gains airline Air France-KLM and Deutsche Lufthansa exceeded market expectations in 3Q


Operating profit airline Air France-KLM in Q3 of this year grew by 27% to 506 million euros compared to market an estimated 434 million euros. Total sales increased in Q3 by 5.8% to 7.18 mld.EUR. Revenues from passenger traffic grew by 7.9%. Total traffic volume increased by 0.9 and availability of flights reached level 86%. Fuel costs in Q3 grew by 15% and 254 million euros. The volume of cargo transport decreased by 6.5%

Operating profit German Lufthansa, which is Europe's number two in the giant, rose in Q3 by 6.2% to 648 million euros compared to an expected 522 million euros. Total sales grew by 6.1% to 8.31 mld.EUR. Net profit grew by 15% in passenger transport division and a 43% in the catering division. The volume of cargo transportation stagnated

Air France-KLM announced that it intends to increase the number of discharges from the originally reported 5000 about another 1500 people.
Lufthansa has previously announced that states will reduce to 3500 in the administration and another 1,000 sites saves in catering. Lufthansa wants to save the restructuring by 2015 around 1.5 mld.EUR.

Shares of Air France-KLM responded to reports growth of 8.3%, which was the largest increase since the end of July this year. During this year, the title has given 60 percent appreciation.
Lufthansa shares reagovla growth of about 6%. Since the beginning of the year, attributed about 27%.
The interest in this pair of titles strong support interest in the sector of air transport in turn helps the entire European stock market.
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