Air France-KLM Shares Fall After Earnings Miss Expectations

Dow Jones11-07

By Pierre Bertrand

Air France-KLM shares fell in early morning trading in Paris after the Franco-Dutch carrier reported third-quarter earnings which missed analysts' expectations.

Shares fell 9.9% after the company reported a 12% on-year drop in operating profit to 1.18 billion euros ($1.27 billion).

The result compares with analysts' expectations of 1.25 billion euros in operating profit, according to a company-provided consensus.

In addition, the company indicated that unit costs had risen 3.4% in the quarter and that costs were higher than expected in the fourth quarter.

It also warned that a proposed tax increase in France on the price of tickets could result in a 90 million to 170 million euro hit to the company's operating profit next year.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

November 07, 2024 03:47 ET (08:47 GMT)

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