Despite soaring oil prices, French-Dutch airline Air France-KLM more than doubled its profits in the first quarter of 2006, DPA quoted the company sources as saying Thursday. Profits for Europe's largest air carrier for the period ending June 30 stood at 244 million euros (313 million dollars), up nearly 118 per cent over the first quarter of 2005, Air France-KLM said in a press statement. Turnover rose by a more modest 11.9 per cent for the first quarter, to 5.8 billion euros. However, earnings on current activities jumped by 84.3 per cent over last year, to 411 million euros. The upbeat results came despite the soaring cost of crude oil, which put the carrier's fuel bill for the quarter at 1 billion euros, or 201 million euros more than for the first quarter of 2005, a rise of nearly 25 per cent. However, passenger traffic was up 7.7 per cent, with the carrier's planes filled to 81.5 per cent of capacity, up 2 points over last year. Investors welcomed the results, bidding up Air France-KLM shares by 2.17 per cent, to 21.15 euros.
