Air France-KLM doubled over one year net profit of the third quarter to 931 million euros, driven by strong travel demand during the summer.
From July to September, the Franco-Dutch group released largest quarterly operating profit of its history, at 1.34 billion euros, synonymous with an operating margin of 15.5% (+2.9 points compared to last year), while its turnover grew by 6.8% to 8.66 billion euros, it said today in a press release. This solid performance made it possible to offset the decline in Cargo activity and the negative effect of inflation.
Air France-KLM transported 26.9 million peoplean increase of 7.6% compared to the third quarter of 2022. The group deployed 6% more seats to reach 94% of the 2019 level, benefited from a higher load factor of its aircraft (+1 .3 point, at 90%) and a yield “always high» per passenger, in clear terms of more expensive tickets (+1.8%).
“Air France-KLM had a solid quarter, marked by very good results (…) Throughout the quarter, we also made significant progress in the deployment of our strategic roadmap. Our historic order for 50 Airbus A350s will significantly accelerate the renewal of our long-haul fleet, with more fuel-efficient, more profitable and quieter aircraft. This new order represents a multi-billion dollar investment in our sustainability roadmap, adding to previous orders for new generation long-haul and single-aisle aircraft. It complements our commitments to sustainable aviation fuels and confirms our ambition to reach 64% of new generation aircraft by 2028. It constitutes a new major step towards our objective of reducing our emissions by 30%. CO2 per passenger-kilometer by 2030”declared the general director of the Franco-Dutch group, Benjamin Smith.
After suffering more than 11 billion euros in losses during the health crisis and benefiting from public aid from the French and Dutch states, Air France-KLM returned to the green in 2022, achieving a net profit of 728 million euros.