Air France-KLM narrows Q1 operating loss

BERLIN, April 30 (Reuters) - Air France-KLM (Other OTC: AFLYY - news) reported a narrower first-quarter loss but did not give an outlook for full-year earnings, saying only that the pressure on ticket prices and negative currency effects would offset virtually all the benefits of lower fuel prices.

The carrier said on Thursday its first-quarter operating loss narrowed to 417 million euros ($463 million) from 445 million a year ago as it cut short and medium-haul capacity at its main passenger network.

Analysts had on average expected a loss of 424 million euros, according to a company-compiled consensus.

It confirmed a target to reduce unit costs by between 1 and 1.3 percent this year, and said talks with unions on improving productivity were ongoing.

It said net debt would total around 4.4 billion euros at the end of 2015, helped by the sale of Amadeus shares in January and the issue of a 600 million euro hybrid bond in April.

Rival IAG, the owner of British Airways and Iberia, also reports results on Thursday. ($1 = 0.9004 euros) (Reporting by Victoria Bryan; Editing by James Regan)