AF-KLM Q1 results “challenging” as it looses millions – again

When an airline describes its quarterly figures as “challenging” this is what it really means: what the f*** is going on? Is anyone actually in charge here?”

It’s PR speak for “can you see the red alarm lights and hear the klaxons going off?”

In statements laced with corporate double speak and impact absorbent verbal padding, AF-KLM revealed losses of €303 million.

The problem as ever, rising fuel prices despite hedging, and lower seat utilisation – it may only have dropped around 1% but that 1% is massively important.

Too many seats are chasing too few passengers and trans-Atlantic especially, is under huge cost pressure right now, with sharp price wars raging.

And we all know who’s costing the group most – AirFrance. As ever KLM is managing just fine.