Air France 2009 Annual Report Download - page 62

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Income/(loss) before tax
The loss before tax of €1.2 billion was mainly due to €911 million of
financial charges, of which 78% related to the fall in the oil price which
led Air France-KLM to recognize the decline in the fair value of its hedging
instruments.

The net loss, Group share stood at €814 million versus net income of
€756 million at March 31, 2008. The loss per share amounted to €2.76
versus earnings per share of €2.66 at March 31, 2008.
Investments
Operating cash flow of €798 million and proceeds from aircraft disposals
of €141 million were insufficient to fund the totality of tangible and
intangible investments.
In € billion
In € million
In € billion
2007-08 0.9
2008-09
-1.2
60 Air-France KLM - Annual report 2008-09