Air France-KLM earnings rebound in first quarter

Air France-KLM posted a stronger-than-expected recovery in the first quarter due in part to low oil prices, but warned of geopolitical risks and airline overcapacity while reaffirming its targets for the year.

The Franco-Dutch airline group reported earnings before interest, tax, depreciation and amortisation (EBITDA) of €266m, compared with a loss of €26m in the first quarter of last year.

The carrier also reduced its operating loss to €99m from €417m a year earlier, as revenue rose 0.4% to €5.605bn.