Air France-KLM reports €513 million operating profit, revenue increase, but impacted by higher costs

From GlobeNewswire.: 2024-07-25 02:15:00

Air France-KLM reports operating profit of €513 million, with a margin of 6.5%, impacted by higher unit costs and fuel prices. Group capacity increased by 4.1% compared to the previous year, with a load factor of 88%. Revenue rose to €7.9 billion, up 4.3% from last year. Unit cost increased by 1.7% from 2023.

Air France-KLM welcomed 25.7 million passengers in Q2 2024, a 4.4% increase from the previous year. Capacity and traffic both grew by 4.1%, with a stable load factor. Operating profit was €513 million, down €220 million from last year, mainly due to higher unit costs. Free adjusted recurring operating cash flow was positive at €134 million.

The group’s cash flow before working capital variation was positive, with a net cash flow of -44 million euros due to pandemic-related payments and net investment expenses of €1.7 billion. Liquidity stood at €9.6 billion, with a Debt Net/EBITDA ratio of 1.6x. In June, the group successfully placed €650 million in bonds, rated BBB- by Fitch and BB+ by S&P.

Air France-KLM aims to reduce greenhouse gas emissions by 30% by 2030 compared to 2019. The group is renewing its fleet with more fuel-efficient aircraft, with 23% of the fleet now comprised of new-generation planes. They plan to increase this ratio to 80% by 2030. The A220 reduces CO2 emissions by 20%, the A320neo by 15%, and the A350 by 25%.



Read more at GlobeNewswire.:: Resultats semestriels d’Air France-KLM