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Air France-KLM Release Full Year 2023 Results

The European airline Group, Air France-KLM recently announced their full year 2023 Financial Results.

High Level Summary:

Sustained demand translating into improved operating margin at 5.7% Group’s equity restored

• Group capacity at 93% compared to 2019 with load factor at 87%

• Group revenues at €30.0bn, up 14% compared to last year

• Operating result at €1.7bn with an operating margin at 5.7%, up +1.2pt compared to last year

• Net income at €0.9bn driving a return in positive equity at €0.5bn for the first time since 2019

• Net debt down by €1.3bn, compared to end of 2022 leading to a Net debt/EBITDA ratio of 1.2x; Cash at hand at €10.5bn

• 2 inaugural credit ratings highlighting the Group’s ongoing transformation and an improved financial structure

Commenting on the results, Mr. Benjamin Smith, Group CEO, said: “In 2023, we delivered on our commitment to strong operational and financial performance, while also maintaining our position as a benchmark airline Group for sustainability. Among our major achievements, we can be satisfied of our efforts to further strengthen our balance sheet and restore the Group’s equity. We also placed a historic order for fifty Airbus A350s with purchase rights for forty additional aircraft, thereby accelerating our fleet’s renewal with latestgeneration aircraft that offer improved fuel efficiency, lower CO2 and noise emissions, and an enhanced experience for our customers. We also confirmed our position as the world's leading user of sustainable aviation fuel, demonstrating our determination to double down on this key decarbonization lever to achieve our sustainability objectives. I would like to thank all Air FranceKLM employees whose hard work has made these accomplishments possible.

Looking ahead to 2024, a key priority will be to continue reinforcing our performance, via the continued execution of our strategy. This year will mark Air France-KLM’s 20th anniversary, an occasion made all the more special by the Paris 2024 Olympic and Paralympic Games, of which Air France is a proud official sponsor. We look forward to welcoming the world to France – athletes, delegates, supporters and more – onboard our aircraft to celebrate the world’s largest event.”

Full results and presentations are attached below for your reference.

Should you wish to talk through the numbers, discuss our insights or how we may assist you in your financial and management reporting requirements, please get intouch.

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