Air France-KLM, Lufthansa report losses in 2011, blame high fuel prices

WASHINGTON, 12 March 2012. Officials at Air France-KLM and Lufthansa, considered to be Europe's largest airlines, warn that high fuel prices will continue to negatively impact profits. Managers at both carriers express concern that profits will continue to deteriorate in the first half of 2012 due to high oil prices.

Deutsche Lufthansa, which had previously posted a profit of EUR 1.1 billion in 2010, has reported a net loss of EUR 13 million for 2011. Franco-Dutch airline Air France-KLM, also having posted a profit of EUR 28 million in 2010, had an operating loss of EUR 353 million in 2011.