Air France-KLM posted a full-year operating profit of €1.6 billion ($1.71 billion) after ending 2024 with a strong last quarter.
The group made an operating profit of €396 million in the fourth quarter, a marked improvement on the €56 million it lost in the same period in 2023. That helped Air France-KLM lift its full-year profit to within 6% of the €1.7 billion it made in 2023.
The profit was achieved on a 4.8% increase in group revenues to €31.5 billion for 2024. Group net profit, amid higher finance costs, though halved for the year to €489 million.
Air France-KLM chief executive Ben Smith says: “In the fourth quarter of 2024, Air France-KLM delivered a particularly strong finish, concluding a year shaped by both operational and external challenges.”
Air France again led group profitability in 2024. The French unit posted an operating profit of €980 million, down €105 million.
KLM’s operating result fell more sharply, down €234 million to €416 million for the year.
KLM chief financial officer Bas Brouns says: “Our financial performance for 2024 is disappointing, especially considering that the operating result largely consists of cost savings.” The Dutch carrier last year embarked on an efficiency programme which it hopes will this year deliver €450 million in savings.
More encouragingly, the group’s low-cost unit Transavia moved to profit for the full year. Transavia’s operating profit of €3 million marked a €100 million improvement on 2023.
