Air France-KLM reports Q2 operating result of €513 million, with positive cash flow at hand.

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

Air France-KLM reported an operating result of €513 million with an operating margin of 6.5% in Q2 2024. Group capacity increased by 4.1% with a load factor of 88%. Group revenues were up 4.3% at €7.9bn, while unit costs increased by 1.7%. Half-Year recurring adjusted operating free cash flow was positive at €134 million, with cash at hand of €9.6bn.

Air France-KLM’s CEO mentioned the challenging aviation environment due to rising fuel costs and cost pressures. KLM and Transavia had a stable but sluggish performance, impacted by the negative effects of the Olympic Games. The group has implemented measures to adapt to the situation, including a hiring freeze and cost cuts while maintaining major fleet investments.

In Q2 2024, Air France-KLM welcomed 25.7 million passengers, up 4.4% from last year. The operating result of €513 million was impacted by higher unit costs, fuel costs, and decreased cargo unit revenues. The group’s unit cost per ASK was up 1.7% year-over-year. Cash flow for the first half-year was reported at -€44 million.

Air France-KLM plans to renew its fleet with more fuel-efficient aircraft and aims to reduce GHG emissions by 30% by 2030. By June 2024, 23% of the fleet comprised new-generation aircraft. The group has committed to increasing this ratio to 80% by 2030. They plan to incorporate at least 10% of Sustainable Aviation Fuel on all flights by 2030.



Read more at GlobeNewswire:: Air France-KLM Half Year Results