Air France Pushes Long-Haul Plans as Profit Beats Estimates
- Capacity to be increased 3.5% in bid to win market share
- 2016 earnings gained 35%, sending shares up most in a year
Air France-KLM CFO Says Unit Revenue Trend Helps Profit
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Air France-KLM Group plans to boost passenger capacity and win back long-haul travelers after reporting a full-year earnings increase that beat analyst estimates and spurred the stock to its biggest gain in a year.
Operating profit surged by more than a third to 1.05 billion euros ($1.1 billion), helped by lower fuel costs and productivity gains at Dutch arm KLM, Europe’s biggest airline said Thursday. Analysts had predicted a figure of 950 million euros.