Record year for Air France-KLM as sales beat €30 billion

Air France-KLM booked record net profit of €934 million in 2023 while group sales reached a record €30 billion, despite the impact of problems in the Middle East.

The results are a sharp contrast to the coronavirus pandemic years, in which the airline was bailed out by the Dutch and French governments. “In 2023, we delivered on our commitment to strong operational and financial performance,” group CEO Benjamin Smith said in a press statement.

The Dutch arm, KLM, also reported record sales, as more passengers travelled by air and ticket prices rose. In total, revenue was up almost 13% at €12 billion.

However, operating profit fell from €706 million to €650 million. The company is still busy getting operations back up to speed post-coronavirus and needs to recruit more pilots and technicians, KLM chief executive Marjan Rintel said.

In addition, the shortage of technical staff and several bouts of bad weather led to flights being cancelled or delayed.

The group did not publish a forecast for 2024 but did say it expected capacity to increase by 5%.