Air France-KLM reported its full-year results for 2023, highlighting sustained demand leading to an improved operating margin of 5.7%.
The group’s capacity reached 93% of 2019 levels, with a load factor of 87%. Revenues increased by 14% to €30.0bn, and the operating result was €1.7bn, with an operating margin up by +1.2 points compared to the previous year. Net income reached €0.9bn, resulting in positive equity at €0.5bn for the first time since 2019. The net debt decreased by €1.3bn, leading to a Net debt/EBITDA ratio of 1.2x, and cash at hand amounted to €10.5bn.
The group received two inaugural credit ratings, reflecting its ongoing transformation and improved financial structure.
CEO Benjamin Smith expressed satisfaction with the strong operational and financial performance, emphasising efforts to strengthen the balance sheet and renew the fleet with an order for fifty Airbus A350s.
The airline confirmed its commitment to sustainable practices, being a leading user of sustainable aviation fuel. Looking forward to 2024, the focus is on reinforcing performance and celebrating the company’s 20th anniversary, coinciding with the Paris 2024 Olympic and Paralympic Games, where Air France is an official sponsor.