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PARIS (AP) - Air France-KLM said Friday that its first-quarter net profit fell to 112 million euros ($139 million) from 536 million euros a year ago, when earnings were boosted by a huge one-time gain, but operating profit rose 27 percent on strong passenger traffic.
The world's largest airline by revenue — formed by a merger last year — also raised its earnings guidance for the full year despite surging oil prices.
Excluding the one-time 2004 gains from the return of goodwill charges, net profit would have risen 26 percent, Air France-KLM said.
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