This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx /-------------------- advertisement -----------------------\ Explore more of Starbucks at Starbucks.com. http://www.starbucks.com/default.asp?ci=1015 \----------------------------------------------------------/ Dutch Carrier KLM Posts Quarterly Loss May 8, 2003 By THE ASSOCIATED PRESS Filed at 12:35 p.m. ET AMSTERDAM, Netherlands (AP) -- KLM Royal Dutch Airlines lost 447 million euros ($505 million) in its fourth quarter, blaming the war in Iraq, a weak global economy and a onetime charge related to its failed merger with Italian carrier Alitalia. The loss reported Thursday for the quarter ending March 31 was larger than its loss of 108 million euros a year earlier. The latest loss included a charge of 181 million euros ($204.5 million) for damages paid to Alitalia after KLM lost a lawsuit over their abandoned merger more than two years ago. It also included a restructuring provision of 49 million euros ($55.4 million). Revenue fell to 1.38 billion euros ($1.56 billion) from 1.49 billion euros a year earlier. For the fiscal year, KLM lost 416 million euros ($470 million) versus a loss of 156 million euros the previous year. Revenue fell to 6.49 billion euros ($7.33 billion) from 6.53 billion euros. ``Despite positive signs in the first half year, KLM reported a disappointing result for the fiscal year. This was mainly caused by the impact of the weak global economy and the continued instability in the Middle East and subsequent war in Iraq,'' KLM said. The airline said factors beyond its control had slashed around 40 million euros ($45 million) from its operating income, but recognized the need for internal ``structural improvement'' to improve profits. The Dutch airline said in April it would slash 3,000 jobs to reduce its overhead. KLM's shares fell 9.1 percent to close at 6.62 euros ($7.48) on the Amsterdam Euronext Exchange. Due to uncertainties surrounding the SARS virus, KLM said it does not anticipate a short-term improvement in the business climate. http://www.nytimes.com/aponline/business/AP-Earns-KLM.html?ex=1053418908&ei=1&en=0145eea1a422771a HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company