Originally Posted by acl65pilot

Air France-KLM Expects Deep Loss
BY DAVID PEARSON -- WSJ
JANUARY 25, 2012

PARIS—Air France-KLM's financial situation is "extremely tight" after the company incurred a substantial operating loss in 2011 for the fourth consecutive year, the chief executive of Air France, one of the Franco-Dutch group's two airline divisions, said Wednesday.

Alexandre de Juniac told a French parliamentary commission that due to rising fuel costs, fierce competition from low-cost airlines and the lingering effects of the financial crisis, Air France-KLM's losses from operations last year will reach "several hundred million euros," but declined to be more explicit as the company's accounts are still being audited. Air France-KLM is 15.7%-owned by the French state.