| The activity of the
        Air France KLM group remained buoyant in March 2006 despite an unfavorable calendar
        effect. The timing of Easter week in April this year weighed on traffic volumes and the tourism activity was
        affected by the Chikungunya epidemic in Indian Ocean zone. However, the yield
        benefited from stronger business traffic. Overall, traffic increased by 6.6% on 7.5% higher capacity in March. The load factor stood at 79.4%, down
        slightly (-0.7 points). Excluding the Caribbean and Indian Ocean sector, traffic increased by 8.6% and the load
        factor remained virtually stable. The group carried over 5.8 million passengers, up 4.7%.  On the Americas, activity remained strong with traffic increasing by 8.1% in line with capacity (+8.2%). The
        load factor  remained  at  the  good  level  of 87.1%  (-0.1  points).  The  success  of
        the group's  development in  Latin America is confirmed by an 18.5% rise in traffic on an increase of 14.6% in capacity
        and an improvement of 2.9 points in the load factor to 87.2%. Asia recorded another strong performance with a 2.4-point increase in the load factor
        (85%), as traffic was up 15.7% on 12.4% higher capacity. On the Africa
        and the Middle East network, traffic increased by 7%. As capacity was up 11.5%, the load factor
        declined by 3.1 points to 74.3%. Activity on the Indian Ocean destinations was strongly impacted by the Chikungunya epidemic. Total traffic
        on  the  Indian  Ocean and  Caribbean sector  decreased  by  5.3%  while  capacity  was  down  0.8%.  The  load
        factor declined by 3.8 points but remained at the high level of  80.9%. On  the  European  network,  traffic  increased  by  2.7%  on  4.6%  higher  capacity.  The  load  factor  stood  at
        67.1% (down 1.2 points). During the financial year 2005-06,
        Air France KLM posted an excellent performance with traffic increasing strongly (up 8.6%) on 6.2% higher
        capacity. The load factor gained 1.8 points to reach 80.6%. The group carried 70 million passengers (up 6.4%). Cargo operations In March, cargo activity posted a 9.8% increase in traffic on 5.8% higher capacity. The load factor gained
        2.6 points to reach 69.1%. In 2005-06, cargo traffic grew 3.5% on 6.5% higher capacity. The cargo load factor stood at 66.1% (down
        1.9 points). See
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