Air France-KLM to report substantial loss for 2011: CEO

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Air France-KLM will report a "considerable loss" for 2011 of several hundred million euros, according to its chief executive Alexandre de Juniac.

Although the precise figure will not be known until the group announces its financial results for 2011 at the beginning of March, de Juniac said they would be "appreciably negative" for the fourth year in a row.

His comments came during a presentation of Air France-KLM's recovery and development plan to a French parliamentary commission.

Putting the group's situation into context, de Juniac said that at the top end of the market it faced very strong competition from Gulf and Asian carriers, while at the budget end it faced competition from the low-cost carriers that are prevalent in France.