The KLM Group reported an operating loss of €31 million for the first half of 2024, despite higher revenues compared to the previous year. The main issues were significantly increased costs, underutilised capacity, and staffing shortages. CEO Marjan Rintel emphasised the need for cost control and financial improvement, while CFO Bas Brouns highlighted initiatives to increase efficiency and revenue, including postponing plans for a new headquarters.
The group’s first-half revenue was €6 billion, up from €5.6 billion in 2023, with nearly 16 million passengers served. In the second quarter alone, KLM achieved €260 million in operational results on €3.2 billion in revenue, but high costs still hindered expectations.
Operational improvements were noted, with stable operations and fewer disruptions. Engineering & Maintenance continued aggressive recruiting, while Cargo saw revenue recovery despite supply chain issues. Transavia, a subsidiary, recorded positive results and transported 4.5 million passengers in the first half of 2024.
KLM plans to announce additional cost-saving measures after the summer to address these financial challenges.
This post was published on 25 July 2024 11:27
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