European airlines hit hard
26 March, 2009: Air France, Europe’s biggest airline, said it will report a loss for the year ending March 31 and is unlikely to post a profit in the following 12 months as the recession crimps demand for travel.
Air France will probably suffer an operating loss of 200 million euros ($271 million) this fiscal year, it said in a statement today. The Paris-based company had predicted a positive operating profit as recently as Feb. 13.
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