A weaker euro and lower fuel prices helped Air France-KLM return to profit in 2015, offsetting the drop in bookings due to the terrorist attacks in Paris, Group Chief Financial Officer Pierre Francois-Riolacci told CNBC on Thursday.
"I think that people sometimes overestimate the fuel price and the effect in 2015, which was a bit more than 400 million euros, because there was hedging and also there was the euro-dollar rate that of course upset quite a lot of this price decrease. So it surely helped us but at the same time, we had downward pressure on the revenues, with unit revenues being down, excluding forex, significantly, from one year to the other," Riolacci told CNBC.
Riolacci said the company is expecting a further decrease in their 2016 fuel bill.
"From 2014 to 2015, the fuel bill [decreased] by about 2 billion dollars… [but] in euros, it's only about 400,000 million," said Riolacci.
However, "if we knew where the oil prices were going, we would be rich. Our business is not to play on the oil price, our business is to transport passengers and cargo," Riolacci told CNBC.