Air France-KLM obtained net profit of 877 million euros between January and September, which represents a 25% decline versus the 1.168 billion of the same period of the previous fiscal year, pressured by the rise in fuel costs, which caused an impact of 436 million euros in the third quarter.
In reaction to the crisis in the Middle East, the group strengthened its offer toward Asia and East Africa in the first half of the year. Subsequently, when the capacity of the Gulf airlines on these routes approached normal levels, it adjusted its strategy in the third quarter, diverting more capacity to America.
At the same time, measures were put in place to offset the effect of fuel through the application of a higher surcharge per ticket by the group’s airlines, in line with competition policies. In the cost chapter, the slogan remains to contain discretionary expenses as much as possible and keep the hiring of non-operational personnel frozen.
Air France-KLM’s revenue figure reached 26.672 billion euros, up 7% year-on-year terms, thanks to robust demand in the premium travel segments and the good performance of the cargo business.
Between January and September, the group carried 80.3 million passengers, up 2.7% compared with a year earlier, while the load factor remained virtually stable, at 87.5%.
Positive adjusted recurring operating free cash flow rose to 1.453 billion euros, 570 million more than in the same period of the prior year, while net debt increased to 8.757 billion euros.
In the fleet renewal context, one of the pillars of Air France-KLM’s transition plan to address climate change, 39% of the aircraft were of the new generation as of the end of September, seven percentage points more than in the same month of 2025.
The group’s roadmap contemplates that up to 80% of its fleet will be formed by this type of aircraft by 2030.
Reduce capacity and anticipate another increase in the fuel bill
For the whole of 2026, the group has once again cut down its forecasts for overall capacity, and now expects growth of +2% versus 2025, compared with the previous range of between +2% and +3%.
The increase in unit cost is now around +1%, whereas it was previously estimated at between 0% and +2%, while net capital expenditure and the leverage ratio remain unchanged.
With regard to the airline’s total fuel cost for the year, Air France-KLM now estimates it will reach 9.2 billion dollars (8.19 billion euros), above the forecast for the preceding quarter, which was 8.9 billion dollars (7.923 billion euros), implying an increase of 2.3 billion dollars (2.047 billion euros) compared with the previous year.
New measures at KLM to strengthen its financial performance
In its statement, the group sets out new structural measures for KLM in order to continue improving its operational and financial performance. These include the simplification of the European fleet, gradually withdrawing the older aircraft models.
Likewise, some activities in Ground Services, Cargo and Engineering and Maintenance will be reorganized, outsourced to external providers, or integrated into the Air France-KLM structure.
In the labor area, KLM seeks an increase in productivity of at least 8%, along with very moderate wage growth. For this reason, the hiring of new employees has been reduced to the minimum and the recruitment of non-operational staff remains on hold.
In the first nine months of the year, the Dutch airline obtained an operating result of 526 million euros, 60% higher year-on-year, with revenues up 9.4%, to 10.865 billion euros.
As for the group’s main airline, Air France, it cut its adjusted operating profit to 1.062 billion euros for the accumulated period, 8.5% less, although its turnover increased by 5.7%, to 16.086 billion euros.
On the other hand, the low-cost subsidiary Transavia recorded a negative operating result of -42 million euros (-65%), affected by higher energy costs, the cancellation of flights to the Middle East, and the fleet renewal process toward the Airbus A320neo family.
Lastly, the group’s loyalty program, Flying Blue Miles, increased its business volume by 32.6%, to 862 million euros, and also obtained an operating profit of 246 million euros, 176% more.