Air France-KLM said Thursday it expects the coming year to be "challenging" amid sharply higher oil prices and a sluggish global economy which contributed to a net loss in its fiscal fourth quarter.
Europe's largest airline said in a statement that it lost 542 million euros ($853.81 million) in the three months ending March 31, compared with a profit of 44 million euros a year earlier.
CEO Jean-Cyril Spinetta said the group expects operating profit for the coming fiscal year to fall as skyrocketing fuel costs cloud the outlook for the industry.
Oil prices are setting new records nearly every day, and on Thursday hit an all-time high …
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