Air France-KLM achieves operating income of €2 billion for the first time

In 2025, the Air France-KLM Group achieved a record operating profit of €2.0 billion with over 100 million passengers - including 76.75 million passengers for the two carriers.

This is a first in the history of the two-airline group, which improved its operating margin to 6.1 %. As Benjamin Smith, the Group's Chief Executive Officer, pointed out, this performance reflects discipline in the execution of strategy, fleet renewal and investment in the customer experience.

" In 2025, we have made progress in implementing our upmarket strategy by improving the customer experience across all our airlines - including new cabins, high-speed Wi-Fi and lounges around the world. At the same time, we have made significant progress in sustainable development by renewing our fleet and increasing the use of sustainable aviation fuel (SAF). Despite continued external uncertainty, we look forward to 2026 with confidence and with a determination to make the most of the opportunities that lie ahead. implement our strategic roadmap with rigour and discipline "said Benjamin Smith.

Premium has a positive impact on revenues

Group revenues amounted to 33 billion euros, up 4.9 % on 2024, driven by Passage, Maintenance and Transavia. Transavia saw its annual traffic rise from 23.2 to 26.1 million passengers, an increase of 12.4%.

Unit revenue at constant exchange rates rose by 1.0 %, supported by the Premium repositioning on the Passage network, while Group capacity increased by 4.9 % and the price of fuel after hedging fell by 7 %. Unit costs were limited to +1.2 %, thanks to rigorous cost management, productivity gains and fleet renewal.

The latter continues to modernise, with 35 % of new-generation aircraft, an increase of 8 points over one year.

For 2026, Air France-KLM forecasts an increase in capacity of 3 to 5 %, an increase in unit cost of between 0 % and 2 % (including 0.5 % linked to the move upmarket), and net investments of around €3 billion, while maintaining a gearing of between 1.5x and 2.0x.

In addition, the Group plans to increase its stake in SAS to 60.5 % in the second half of 2026, subject to regulatory approval. This will accelerate the integration of SAS into Air France-KLM's global strategy.