Air France KLM reported net income of €168 million ($261.7 million) for its fiscal first quarter ended June 30, down 59.4% from a €415 million profit in the year-ago period, and said it will seek an additional €190 million in annual cost savings to counter "the new economic environment." But the company said it was able to avoid a bigger earnings drop in the quarter by hedging 40% of its fuel and raising fares, and it reaffirmed its fiscal full-year guidance of a €1 ...

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