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Air France KLM this morning released its full year results for 2014, revealing that the carrier was again in the red, and cargo was down. With flat group revenues of €24.9bn, EBITDA was €1.5bn, down €266m. Excluding last year’s damaging strike, EBITDA rose €159m to €2bn. The adjusted net result was a loss of €535m, with the 14-day pilots’ strike costing the company €425m.

Despite previous announcements that more details on the restructuring of the cargo operation would be revealed in ...

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