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Poor Air France-KLM. Another set of tragic results, with losses from cargo at €222m, while the group’s overall loss (you can see the results here) was €1.19bn. The plan is to keep a tight rein on capacity, by taking a freighter out, but last year RTKs fell 6.3% while capacity was down 3.5%. It’s going to be a tough job for the new president and CEO, Camiel Eurlings.

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