The worsening global economic climate has been blamed by KLM for the slump in its operating income for the first quarter of the year. Income declined to €23 million ($20.2 million) from €100 million during the same period in 2000. Operating revenues also decreased during the same period by €38 million to €1,712 billion, while yield declined by 1%. KLM has made a cautious operating forecast admitting the full impact of the economic downturn on the airline industry has yet to be determined, as has the timing of the economic recovery. KLM says: "It appears inevitable that operating income for the full year will be well below last year."
Source: Flight International