Captain_Escargot
June 3, 2002, 01:57 AM
Air France Soars Above Rivals
May 29, 2002
While major European airlines struggled financially, Air France has bucked the trend by announcing profits of EUR153 million (USD$142.6 million) in the year ending in March.
The French carrier's limited exposure to North Atlantic routes in the aftermath of the September 11 terrorist attacks helped it to beat its major rivals.
It also benefited from the collapse of other airlines on some of its profitable African routes, notably Air Afrique, Swissair and Sabena.
In a statement, Air France chairman Jean-Cyril Spinetta also underlined a strong performance in the Belgium market since the collapse of the Belgian flag carrier.
"Expanding from 8 to 14 main city destinations in Europe has strengthened our position in the Belgian market. Our very newest routes to Athens and Lisbon have started strongly. Overall our load factors were 76 percent and ahead of last year in spite of the disruptions caused by the start up of SN Brussels Airlines and the start up of so many new routes," he said.
"Based on available data, we are now the largest carrier in passenger numbers from Brussels Airport to European destinations."
Despite profits being down by 64 percent on the previous year's EUR421 million, the airline says its prospects for the current year are positive.
"Our second quarter has started strongly with load factors over 80 percent and increasing yields on all routes. We anticipate a profitable second quarter and profits for year-end", said Mr Spinetta.
May 29, 2002
While major European airlines struggled financially, Air France has bucked the trend by announcing profits of EUR153 million (USD$142.6 million) in the year ending in March.
The French carrier's limited exposure to North Atlantic routes in the aftermath of the September 11 terrorist attacks helped it to beat its major rivals.
It also benefited from the collapse of other airlines on some of its profitable African routes, notably Air Afrique, Swissair and Sabena.
In a statement, Air France chairman Jean-Cyril Spinetta also underlined a strong performance in the Belgium market since the collapse of the Belgian flag carrier.
"Expanding from 8 to 14 main city destinations in Europe has strengthened our position in the Belgian market. Our very newest routes to Athens and Lisbon have started strongly. Overall our load factors were 76 percent and ahead of last year in spite of the disruptions caused by the start up of SN Brussels Airlines and the start up of so many new routes," he said.
"Based on available data, we are now the largest carrier in passenger numbers from Brussels Airport to European destinations."
Despite profits being down by 64 percent on the previous year's EUR421 million, the airline says its prospects for the current year are positive.
"Our second quarter has started strongly with load factors over 80 percent and increasing yields on all routes. We anticipate a profitable second quarter and profits for year-end", said Mr Spinetta.