The passenger revenue for Air France is down by 18.7 percent. This news came from an Air France report late last week. So far the airline has reported a net loss of €426 million for the first quarter of its financial year. This is a big difference from the €211 million in profits that it reported last year at the same time.

The carrier did go on to say that pretax income dropped by about 86.2 percent from €814 million to just €12 million. The airline noted that the global economy, although more stabilized than it was months ago, has stabilized at unprecedentedly low levels. This has lead to a sharp decline in unit revenue and volume.

The passenger revenue has been reproved to be down as much as 18.7 percent, but that is not the only thing that is down. Cargo revenue is down by as much as 41.5 percent. Overall the company suffered a total loss in revenue of 20.5 percent. Of course, the company was quick to point out that negative fuel hedging impacted profit as well. In fact, it impacted it by a negative €252 million.

The passenger activity for the airline was, of course, weak. The carrier said that it saw a drop in traffic by 5.8 percent. Of course, these numbers have not shocked experts at all. They go on to say that Air France is a big name in the airline industry, but they are not above the recession. All airlines are being hit hard by this downturn, and this does include Air France.