AFKL loss of €303M in Q1 2019
I have not seen it posted elsewhere, so I give it a go.
AFKL announced an operating loss of €303M for Q1, from 118 a year earlier. It was worse than expected by analysts (average -206).
AFKL share prices lost over 25% since April 18, while CAC40 only lost 6%.
Like LH group and BA/IAG, AFKL explains it by increased fuel costs and excessive capacity (price war). In addition Bloomberg points out that employee costs increased by 6.4% from last year (an increase of €119M) due to raises granted to achieve industrial peace.
To be fair, results are no better at LH and even IAG had a big drop in operating profit, but still a 135 profit:
LH Group -€350M
AFKL -€303M
BA/IAG +€135M