Air France-KLM reported a 2024 operating profit of €1.6 billion, a 6% decrease from the previous year, amid various operational and external challenges. Despite this, the group anticipates a capacity increase of 4-5% in 2025.
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Air France - KLM GroupAir France-KLM reported a 2024 operating profit of €1.6 billion, a 6% decrease from the previous year, amid various operational and external challenges. Despite this, the group anticipates a capacity increase of 4-5% in 2025.
Financial Performance:
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Revenue Growth: The group’s revenues rose by 4.8% in 2024, reaching €7.9 billion, driven by a 3.6% increase in capacity and a 4% uptick in revenue per available seat kilometer in Q4.
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Load Factor: The annual load factor improved by 0.5 percentage points, reaching 87.8%.
Segment Analysis:
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Air France: Reported a 3.8% revenue increase to €19.2 billion; however, profits declined by €105 million to €980 million. The Paris Olympic Games negatively impacted revenue by approximately €200 million during the peak summer period.
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KLM: Operating profits decreased by €234 million to €416 million, despite a 5.4% revenue increase. Profitability was affected by operational challenges leading to increased costs.
Strategic Initiatives:
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Restructuring Efforts: KLM initiated a €450 million restructuring process in October 2024 and announced a reduction of 250 non-operational jobs in January 2025 to enhance profitability.
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Fleet Renewal: The group is committed to sustainability, with new-generation aircraft comprising 27% of the fleet by the end of 2024 and plans to increase this to 80% by 2030.
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Sustainable Aviation Fuel (SAF): Air France-KLM incorporated 103,000 tons of SAF in 2024, accounting for 1.25% of total fuel usage—a 13.6% increase from 2023.
Outlook for 2025:
The group projects a capacity increase of 4-5% and expects a modest rise in costs compared to 2024. CEO Benjamin Smith emphasized a continued focus on the strategic roadmap, disciplined capital allocation, and cost efficiency to achieve medium-term ambitions.
Despite the challenges faced in 2024, Air France-KLM is poised for growth, leveraging strategic initiatives and a focus on sustainability to navigate the evolving aviation landscape.
Source: Air France
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