EarningsAir France-KLM reported a miss on Q1 vs consensus operating income, at -€489m vs -€430m consensus.
External ImpactThe company has warned that the Olympics will be a headwind, with an unforeseen negative impact of €160-€180m, spread over Q2 and Q3.
Financial PerformanceThe Olympic headwind adds another setback, making the company seem a long way from achieving its 7%-8% EBIT margin target.