AF-KLM's activities in the first quarter of financial 2010/2011 saw a strong recovery in both passenger and cargo figures, in spite of the five-day closure of European air space following the eruption of a volcano in Iceland. Revenues grew by 10.7% to EUR 5.72 billion. Without the impact of the air space closure they would have risen by 15.9%. The operating result recovered considerably from minus EUR 496 million to minus EUR 132 million, a EUR 364 million reduction in losses. The air space closure is estimated to have cost EUR 158 million. Without this event the group would have made a EUR 26 million profit, which would have represented a EUR 522 million improvement. www.airfranceklm-finance.com