PARIS, July 25 (Reuters) - Air France-KLM posted a sharp increase in gross operating margins for the second quarter and said it would soon announce a new “Perform 2020” plan for 2015-2020 aimed at regaining market share from low-cost rivals in Europe.
Europe’s second largest traditional network carrier by revenues, behind Lufthansa, reported 641 million euros ($863 million)in earnings before interest, tax, depreciation and amortisation (EBITDA), up from 510 million in the same quarter of last year.
The Franco-Dutch group’s EBITDA margin rose to 9.9 percent from 7.8 percent on sales which rose 1.7 percent on a like for like basis to 6.451 billion euros, and said it would reach its newest profit and debt goals for 2014 while stressing a “tough” environment in the wake of a profit warning earlier this month.
However it took a 106 million euro charge on its loss-making cargo planes and said it was also looking at a partnership or restructuring of its full-freighter business. ($1 = 0.7426 Euros) (Reporting by Tim Hepher, Cyril Altmeyer; Editing by Andrew Callus)