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Air France cuts profit forecast on overcapacity, lower prices

Reduced projection of 2.2-2.3b euros is still 20% better that 2013 Ebitda, it says

[PARIS] Air France KLM said its 2014 profits could be as much as 12 per cent lower than previously predicted, mainly as a result of overcapacity and resulting weak prices in both the passenger and cargo sectors.

Joining other airlines that have also flagged overcapacity as a drag on earnings, the French-Dutch carrier stressed that the lower result, at 2.2-2.3 billion euros (S$3.7-3.9 billion), down from the previous guidance of 2.5 billion euros, still represented a 20 per cent improvement on 2013...

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