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Air France KLM 2015 total revenues 26.1 billion euros

Staff writer |
Air France KLM full year 2015 total revenues stood at 26.1 billion euros versus 24.9 billion euros in 2014, up 4.6%.

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Corrected for the strike impact, revenues increased by 2.5% mainly as a result of a strong currency tailwind. Total revenues were down 3.2% like-for-like.

The fourth quarter 2015 results were affected by the Paris terrorist attacks in November. The estimated impact in the fourth quarter 2015 revenues was 120 million euros.

Total operating costs were up 0.8% year-on-year and 5.8% lower on a like-for-like basis. Ex-fuel, they increased by 3.5% and by 1.1% on a like-for-like basis.

Unit cost per EASK was reduced by 0.6%, on a constant currency, fuel price and pension basis, against capacity measured in EASK up by 0.2%, corrected for the strike.

The 2015 fuel bill amounted to 6,183 million euros, do5. wn 6.7% and 22.3% like-for-like. Based on the forward curve at February 2016, the Full Year 2016 fuel bill could amount to 4.5 billion euros.

Total employee costs including temporary staff were up 2.8% to 7,852 million euros. They included a non-cash increase of 139 million euros in pension related expenses at KLM due to changes in actuarial assumptions (lower discount rate).

On a constant scope and pension expense basis and adjusted for the strike, they increased by 0.7%. Excluding the profIt sharing scheme, net employee costs decreased by 0.2%.

In Full Year 2015, the positive currency impact on revenues reached 1,510 million euros. In spite of the higher profits on currency hedging, the negative impact on costs reached 1,688 million euros.

The net impact of currencies on the operating result thus amounted to a negative 178 million euros.

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