The strength of the airline in its fourth quarter came in passenger revenues. For its part for the quarter, cargo revenues were down from last year’s €23 million to €22 million this year. However, for the entire fiscal year, total cargo business was up a modest 0.9% at €2.08 million up from €2,882 in 2006.
In looking at the relatively small growth in cargo, the company noted that it had stiff competition not only from other air carriers but from other shipping modes as well. A strong Europe tended to make exports smaller, especially to Asia.
In reflecting on the year’s financials, Board of Directors chair, Jean-Cyril Spinetta said, “This financial year also draws to a close the first phase in the merger of Air France and KLM which has resulted in significant value creation for both the group and its shareholders.”
