The Air France-KLM Group, which includes Air France, KLM and Transavia, has revealed a net loss of 256 million euros for its fourth quarter group part. This marks a significant downturn compared to the prior year's profit of 496 million euros.
Additionally, the operating result was a negative 56 million euros, a stark contrast to the previous year's positive 134 million euros. The Group pointed out that these results were largely influenced by volatile geopolitical situations in Africa and the Middle East, alongside increasing unit costs. However, part of this financial blow was cushioned by the decline in jet fuel prices.
The Group's EBITDA (Earnings before interest, tax, depreciation, and amortisation) also declined by 24% to 601 million euros, from last year's 786 million euros.
On a brighter note, the fourth quarter saw the Group's revenues rise by 3.9% to 7.41 billion euros, compared to the previous year's 7.13 billion euros—an increase of 6.7% when accounting for constant currency rates.
The quarter also saw passenger numbers increase, with Air France-KLM recording 22.3 million passengers, marking a growth of 6.4% over the previous year. Although capacity rose by 6% and traffic by 5.3%, load factor slipped slightly, down 0.6 points to 85.3% compared with the last year.
Looking to the future, the Air France-KLM Group predicts a 5% increase in capacity in Available Seat Kilometers, including Transavia services, by 2024.
