Air France-KLM Group published today its financial results about full year 2024.

The highlights are: 

Strong finish of the year leading to a Full Year operating result at €1.6 billion and margin at 5.1%

Q4 2024 

• Group revenues at €7.9bn, up 6.4% compared to last year driven by a favorable business dynamic resulting in an increase in unit revenue of +4.4% on a +2.2% capacity increase. 

• Operating result stood at €396m, an improvement of €453m compared to last year. Margin at 5.0%. 

• Unit cost up +4.0% compared to 2023, due to airport and air traffic control charges, salary cost increase, capacity mix effect and premiumization of the cabin. 

FY 2024 

• Group revenues at €31.5bn, up 4.8% compared to last year driven by an increase in capacity of 3.6%, a stable unit revenue and increased third party maintenance revenues. 

• Operating result stood at €1,601m, with operating margin at 5.1%.

• Unit cost up +3.2% compared to 2023, due to premiumization, haul mix and salary increases.

• Positive Recurring adjusted operating free cash flow, at €271m. 

• Leverage (Net debt/EBITDA ratio) at 1.7x in line with our medium-term target range. 

Outlook 

For 2025 the Group expects: 

• Capacity up by 4-5% compared to 2024. 

• Unit cost to increase low single digit compared to 2024. 

• Net capital expenditures between €3.2bn and €3.4bn. 

• Leverage between 1.5x and 2.0x in line with our medium-term target range. 

The Groups reiterates its 2026-2028 Medium term outlook.