Air France-KLM’s Profits Rise as Fuel Prices Drop

European airline Air France-KLM has posted its first annual net profit since 2008. The carrier reported a net profit of €118 million for 2015, compared with a €225 million net loss the year before. The company’s overall sales rose 2.8 per cent to €89.82 billion last year.

The uptick in results at the Franco-Dutch carrier comes as successive cost-cutting plans yielded results and cheap jet fuel make operations more profitable. However, for the fourth quarter, net profit fell to €276 million, from €308 million a year earlier.

The company estimated the November terror attacks in Paris and Bamako, Mali, resulted in a revenue loss of €120 million in the quarter. Profits were boosted by falling fuel prices, which saves Air France-KLM in the region of €450 million.