By the financial year 2002, the company had turned around the business and returned to profitability.
But he also said the company was unlikely to return to profitability before the early 1990's.
The company said last month that it expected to return to profitability by 1995.
The company had $1.5 billion in sales last year, and returned to profitability.
However, it was quite clear that this would never return the company to profitability.
"We believe that these efforts will help us return to profitability."
Air France returned to profitability last year after years of running in the red.
As a result, the hotel returned to profitability during the 1970s and early 1980s.
He noted that the company returned to profitability in the last half of 1990.
The company could return to profitability in 1996, he said.