Disruption costs and reduced cargo revenues sharply drove up Air France-KLM’s first quarter losses to nearly €500m, new figures from the airline group show.
Air France-KLM – which owns Air France, KLM and Transavia – has reported operating losses of €489m for the first quarter of this year; up from €306m in losses for the corresponding period last year.
However, on a year-on-year basis the airline group carried 6.2% more passengers in the first quarter, at 20.9 million people; and group revenues rose by just over 5% to €6.7bn.
Benjamin Smith, Air France-KLM Group CEO, said: “Despite a challenging start to the year with persistent geopolitical tensions, Air France-KLM recorded further revenue growth this quarter, capitalising on a structurally robust travel demand.”
“However, as anticipated, our operating income was impacted by disruption costs and a slower Cargo business. We nonetheless remain confident in our ability to achieve our 2024 unit cost outlook, and are focused on executing our strategic roadmap to deliver our mid-term commitments.”
